Homework Answers
1. (A) You clean your house every Thursday. Here one is doing their household work which does not add to the GDP. Had this been done, by some non-member, this would have added to the GDP.
Hence this doesnot contribute towards changing GDP.
(B) You sell your old Economics book for $25. Here no new good or service is added to the economy. GDP does not take into consideration reselling of the goods.
Hence this also does not contribute towards changing GDP.
(C) Your Economics textbook is revised and you buy a new edition. This means a nw good is created in the economy and this is being sold for the first time.
Hence this contributes towards changing GDP, and the change is equal to the value of the Economics textbook.
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4.
Compare and
contrast Emilio Kornau with Mark Margolis. How were the two men
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