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Business
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5 / 1346 |
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GDP does not account for the services of homemakers and carpenters who repair their own homes (McConnell, Brue 2004). This impacts as an understating of the nations total output. Leisure activity within the labor force is not accounted for as well. The average workweek hours has decline significantly since the 1900s...
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The average workweek hours has decline significantly since the 1900s. This value in leisure services cannot be accounted for. Lastly, the underground economy of people not reporting any or all of their wages. People paid in cash or using barter as a method of payment account for roughly 8 percent of the recorded GDP in the United States (McConnell, Brue 2004)...
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