50 ms·
> if you and me are living on an uninhabited island and grow/catch all of our food for consumption, our GDP is $0 No. The imputed value of goods produced for s
by unmole 1y ago
> if you and me are living on an uninhabited island and grow/catch all of our food for consumption, our GDP is $0
No. The imputed value of goods produced for self-consumption is included in GDP calculations.
The UN SNA term of art is own final consumption: https://unstats.un.org/unsd/nationalaccount/docs/SNA2008.pdf https://unstats.un.org/unsd/nationalaccount/docs/SNA2008.pdf