Gdp Flashcards
(4 cards)
1
Q
Define GDP
A
Value of all the goods and services produced in an economy in a given time period
2
Q
Identify three things that would contribute to a country’s G.D.P
A
Mortgage shopping houses
3
Q
How does things like drugs affect the economy ?
A
Could make GDP in accurate as no one knows the exact amount of illegal drugs there is in the hidden economy
4
Q
Why is it difficult to measure G.D.P?
A
It involves the value of everything this includes illegal markets , volume of data and speculation
