An article in the Economist on the revisions to Nigeria's GDP commented, The GDP revision is not

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An article in the Economist on the revisions to Nigeria's GDP commented, "The GDP revision is not mere trickery. It provides a truer picture of Nigeria's size by giving due weight to the bits of the economy, such as telecoms, banking and the Nollywood film industry, that have been growing fast in recent years."
a. What does the article mean by "giving due weight" to the sectors of the economy that have been growing quickly?
b. How did the Nigerian National Bureau of Statistics accomplish the task of giving these sectors their due weight?
c. Why does making this change in calculating GDP provide a truer picture of the size of Nigeria's economy?
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Related Book For  book-img-for-question

Economics

ISBN: 978-0134106243

6th edition

Authors: R. Glenn Hubbard

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