The Value of Unpaid Childcare Services Provided by a Stay-At-Home

question 1

Multiple Choice

The value of unpaid childcare services provided by a stay-at-home dad ________ included in GDP; the value of daycare services purchased from a licensed childcare provider ________ included in GDP.

• A)is; is not
• B)is; is
• C)is not; is not
• D)is not; is

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Definitions:

Input Prices

The cost associated with the factors used in production, such as labor, materials, and capital.

Number of Sellers

Refers to the total count of distinct sellers or firms active in a given market, affecting the market's competition level.

Suppliers' Expectations

The beliefs or forecasts that producers have regarding future prices, demand, or supply conditions.

Advancement in Technology

The process of developing and applying new tools, machines, materials, and processes to improve products and services and solve problems.