Question

Although GDP is a reasonably good measure of a nation's output, it does not necessarily include all transactions and production for that nation. Which of the following scenarios are either not accounted for or measured inaccurately by either the income or the expenditure methods of calculating GDP for the United States? Check all that apply.

The loss of enjoyment people incur when scenic land is converted to commercial use
The quality of goods available to consumers
The value of babysitting services, when the babysitter is paid in cash and the transaction isn't reported to the government
Funds spent by city governments to renovate their buildings
When a U.S. company purchases and imports electronic parts from China to use to produce MP3 players within the United States, this purchase increases the component of GDP while also net exports by the same amount. Therefore, the purchase of electronic parts from China causes in US GDP.

Answer 1

The answers are the first three statements.

Step-by-step explanation:

The quality of goods available to consumers .

The value of babysitting services, when the babysitter is paid in cash and the transaction isn't reported to the government.

The loss of enjoyment people incur when scenic land is converted to commercial use.