In Calculating GDP, Household Production Is

question 391

Multiple Choice

In calculating GDP, household production is

• A) not included because there is no market transaction.
• B) included as part of consumption.
• C) included under employee compensation.
• D) ignored because it is not a large amount.

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Definitions:

Children

Young human beings who are in the early stages of their lives, typically considered from birth until puberty, characterized by rapid growth and development.

Decrease

A reduction in size, quantity, or intensity of something, often measured against a previous standard.

Wifework

Tasks and responsibilities traditionally performed by wives within the domestic sphere, including household chores, childcare, and emotional labor.

Unpaid Household Labor

Work performed within the home, such as cooking, cleaning, and caregiving, that is not compensated with monetary payment.