Explain the sense in which GDP accounting is an institution (see the Oxford Dictionary of the English

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Explain the sense in which GDP accounting is an institution (see the Oxford Dictionary of the English Language for a precise definition of an institution).

a. How does GDP as an institution shape our understanding of the economic system?

b. Who benefits from using GDP accounting as a measure of welfare? (Institutionalist)

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Macroeconomics

ISBN: 978-1259663048

10th edition

Authors: David C. Colander

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Question Posted: Dec 05, 2018 07:16 AM

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Explain the sense in which GDP accounting is an institution (see the Oxford Dictionary of the English

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GDP is an institution in the sense that it is a social norm that was created in a specific cultural ...View the full answer

Macroeconomics

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