Funds spent by city governments to renovate their buildings
Although GDP is a reasonably good measure of a nation’s output, it does not necessarily include all transactions and production for that nation.
Which of the following scenarios are either not accounted for or measured inaccurately by either the income or the expenditure methods of calculating GDP for the United States? Check all that apply.
a. Funds spent by city governments to renovate their buildings
b. The costs of air and water pollution
c. The components of an MP3 player that are produced in China
d. The value of baby-sitting services, when the babysitter is paid in cash and the transaction isn’t reported to the government
e. The leisure time they have
