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What have been some justifications given for the historical exclusion of household production from the national accounts?

Some reasons have included:

a. households are not producing economic goods;

b. it's too difficult to differentiate household production from consumption;

c. GDP measures just market production; d; containing household production would make too big of a alter in the accounts.

 

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M9574823

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