Problem
Measured and true GDP Suppose that instead of cooking dinner for an hour, you decide to work an extra hour, earning an additional $12. You then purchase some (takeout) Chinese food, which costs you $10.
a. By how much does measured GDP increase?
b. Do you think the increase in measured GDP accurately reflects the effect on output of your decision to work? Explain.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.