Determine household production from the national accounts, Microeconomics

What have been some justifications given for the historical exclusion of household production from the national accounts?

Some reasons have included:

a. households are not producing economic goods;

b. it's too difficult to differentiate household production from consumption;

c. GDP measures just market production; d; containing household production would make too big of a alter in the accounts.

Related Discussions:- Determine household production from the national accounts

Unemployment, Unemployment: Individuals who want to be employed, and are ac...

Unemployment: Individuals who want to be employed, and are actively seeking work, but can't find a job, are considered ‘officially' unemployed. Individuals who aren't working, but

represent the effect of an proportional tax on labor income, 1. Consider a...

1. Consider an individual facing a wage rate w . There's a total of 100 hours available for work or leisure in a week. (a) Represent his budget constraint graphically (b)

Find the total cost and marginal cost function, Question : (a) Suppose...

Question : (a) Suppose Firm A is a perfectly competitive firm producing good X and faces the following average revenue and average cost Average Revenue: P = 10 Average Co

Magnitude of total surplus, Answer the following questions based on the gra...

Answer the following questions based on the graph that represents J.R.'s demand for ribs per week at Judy's Rib Shack. a. How high must the price of ribs be for Judy to supply

Chemistry Project on Preparation of Soyabean Milk, observations and result

observations and result

Dynamic changes in costs: the learning curve, Dynamic Changes in Costs: The...

Dynamic Changes in Costs: The Learning Curve * The learning curve measures impact of worker's experience on costs of production. * It describes relationship between a firm

What are the factors of production, Factors of Production : The factors o...

Factors of Production : The factors of production are the resources that are essential for production. They are usually separated into 4 dissimilar groups: Land - all natu

Indifference curve, Indifference curve term paper

Indifference curve term paper

Demand and supply, technological advance reduced the cost of computer chips...

technological advance reduced the cost of computer chips . explain using the demand and supply diagrams , how the the following markkets are affected in terms of price and quantiti

Explain costs and benefits of establishing a common currency, Discuss the c...

Discuss the costs and benefits of establishing a common currency. So, there is a convergence issue in setting up the common currency - and there will also be a convergence prob

Write Your Message!

Name

Email id

Message

Verfication Code

User Account

All Pages