Qualification > Commerce
ALL ECONOMICS DISCUSSION, PAPERS HELP HERE!!
elemis:
Your mother carries out domestic work cleaning the dishes and probably cooking food.
She effectively spent time on all of this output which is worth something. The major disadvantage of Real GDP as a measure of living standards is that it fails to include the working hours of a select group of individuals:
domestics servants and those in the informal economy.
GDP omits the cost of living.
REAL GDP takes into account changes in prices of commodities as compared to a base year.
J.Darren:
--- Quote from: Ari Ben Canaan on June 28, 2010, 01:28:38 pm ---Your mother carries out domestic work cleaning the dishes and probably cooking food.
She effectively spent time on all of this output which is worth something. The major disadvantage of Real GDP as a measure of living standards is that it fails to include the working hours of a select group of individuals:
domestics servants and those in the informal economy.
GDP omits the cost of living.
REAL GDP takes into account changes in prices of commodities as compared to a base year.
--- End quote ---
GDP does not account for invisible activity (e.g. DIY, black market) - in this case household chores, while there is output (e.g. meals), it is not included in the calculation of GDP as a whole ...
Real GDP basically adjusts for inflation, thus indicating whether real growth has took place.
omar123:
:) 8)
The Golden Girl =D:
--- Quote from: omar123 on July 08, 2010, 05:31:06 pm --- :) 8)
--- End quote ---
keep up the gd work mate ;) :)
mayank06090:
I am sitting in october november for eco .... can any1 plz upload some of the standard answers of past 3-4 years ... which can get be 75+/80 in paper 2
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