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    Oil and Coal Production and Shift to Green GDP

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    How does oil and coal production currently show up in GDP? How would this change if a country shifted to a measure of "green GDP"?

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    Gross Domestic Product (GDP) only takes into account final goods, not inputs or resources used to produce final goods. Currently oil is used to manufacture all sorts of final products such as tires, refrigerators, and televisions. It is also refined to be used as crude oil products like motor oil or gasoline. In all these examples, it is counted in ...

    Solution Summary

    The solution discusses how oil and coal production currents shows up in GDP.