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Intro to six limitations of real GDP
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Intro to six limitations of real GDP
4:43
About this lesson
Household Production & Underground Activity
- Cooking, Cleaning, Taking Care of Kids
- Not Included in GDP
- GDP Underestimation of Total Production
- Either Illegal, or to Avoid Taxes/Regulations
- Range from 10-30% of GDP (not calculated)
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Video 1 of 3
Intro to six limitations of real GDP
5 min
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How life expectancy and leisure time limit real GDP accuracy
4 min
Environmental quality and political freedom as GDP limitations
5 min