Purchase Solution

Official measure of GDP

Not what you're looking for?

Ask Custom Question

Explain what happens to the official measure of GDP in each of the following situations.

a. Air quality improves significantly throughput the United States, but there are no effects on aggregate production or on market prices of final goods and services.
b. The U.S. government spends considerably less on antipollution efforts this year than it did in recent years.
c. The quality of cancer treatments increases, so patients undergo fewer treatments, which hospitals continue to provide at the same price as before.

Purchase this Solution

Solution Summary

The solution explains the official measure of GDP.

Solution Preview

a) There will be no effect on GDP as GDP involves measurement of final goods ...

Purchase this Solution


Free BrainMass Quizzes
Pricing Strategies

Discussion about various pricing techniques of profit-seeking firms.

Economics, Basic Concepts, Demand-Supply-Equilibrium

The quiz tests the basic concepts of demand, supply, and equilibrium in a free market.

Basics of Economics

Quiz will help you to review some basics of microeconomics and macroeconomics which are often not understood.

Economic Issues and Concepts

This quiz provides a review of the basic microeconomic concepts. Students can test their understanding of major economic issues.

Elementary Microeconomics

This quiz reviews the basic concept of supply and demand analysis.