Part 1. respond to the following in a minimum of 175 words: discuss

 

Part 1. Respond to the following in a minimum of 175 words: 

 Discuss the limitations of GDP as a measurement tool.

Part 2. Reply to the following post in a minimum of 100 words:

“GDP has many limitations, some can be accounted for with real GDP, and other simply will never be accounted for like illegal activity, bartering, and the productivity of stay at home parents. The real problem is that none of these actions are taken place inside of an official market. Without being monitored how is it supposed to be accounted for. These can have large consequences when it comes to figuring out how much money a country is making or losing. For example if someone made $80,000 a year strictly through selling drugs in the underground market that money will never reach the GDP of the country, thus making it seem like the country is making less all around, making it seem like the economy is more expensive then it really is. This can affect how voters think of different leaders, as well as how much effort is put into the wrong area to help fix the economy. This also doesn’t account for illegal drug activity that crosses the boarders to different countries. While GDP isn’t a perfect system, and has some major flaws, I agree with the text book in saying that as long as we understand what GDP is not accounting for we can make educated guesses on what is best for the country based on the GDP information that we can collect. If there is a massive change in the GDP from one year to the next and we cannot see a major difference in tracked information, we would at least know it has something to do with un-tracked information and start making adjustments based on that.” – Orrin M.

Part 3. Respond to the following thread in a minimum of 100 words:

“Gross Domestic Product (GDP) refers to the total financial revenue accomplished by a nation over a certain period. While GDP is commonly a reasonable indicator of a nation’s monetary effectiveness, money related prosperity and way of life, it comes with inadequacies. In any case, it has some significant limitations. Gross domestic product only includes market transactions. GDP fails to account for transactions that do not take place in the market such as black-market transactions and domestic or voluntary work. The gross domestic product does not portray what is being created. Since GDP estimates the estimation of every completed good and service inside an economy; it likewise incorporates items that may affect social welfare. Gross domestic product disregards externalizations. Economic development often goes connected at the hip with expanded misuse of both sustainable and non-inexhaustible assets. One imperfection inside GDP calculations is that estimating entirely by cost underestimates certain items by limiting their commitments to profitability and ways of life. Medical advances, for example, are evaluated exclusively by the cost of the treatment, disregarding the advantages of shorter emergency clinic stays and longer lifespans. GDP fails to indicate whether the rate of growth of a nation is sustainable or not.” – Austen M.

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more

STAY HOME, SAVE LIVES. Order your essay today and save 20% with the discount code ATOM