Prostitution is made legal , what is the impact on GDP?
Answers
Answer:
The underground economy refers to money earned from illicit activities like prostitution and the sale of illegal drugs. ... Because underground economic transactions go unreported, they distort the accuracy of a nation's gross domestic product, which consequently may adversely affect a government's monetary policies.
Answer:
G.D.P. is important, right? I’ve been an economics reporter for only 10 months, but I think I’ve learned that much. G.D.P. — gross domestic product — is a cornerstone economic statistic used to measure a country’s economic output. Its origins are often traced back to the work of the economist Simon Kuznets, who developed a series of national income accounts for the United States government during the Depression of the 1930s. G.D.P. itself, which Foreign Policy Magazine once called “a window into an economy’s soul,” didn’t emerge until decades later.
But the events of the last couple of months have left me wondering how much more art than science G.D.P. really is.
First, in April, Nigeria changed the base year it used to calculate its output and added nearly 90 percent to its G.D.P. Overnight, Nigeria became Africa’s largest economy.
Explanation:
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