3 ms·
It’s not measured in GDP but it is measured. For example right now it’s estimated that household production is around 23% of GDP. So quite sizable. Part of the
by zeroonetwothree 11mo ago
It’s not measured in GDP but it is measured. For example right now it’s estimated that household production is around 23% of GDP. So quite sizable.
Part of the reason it’s not included in GDP is just that it’s not reliable to measure precisely so it’s not as valuable as a statistic for making monetary and fiscal policy decisions.