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10 January, 11:36

Several European countries spend less time working and more time on leisure activities than the United States. How is this greater leisure time accounted for in gross domestic product measurements?

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  1. 10 January, 11:50
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    The value of Leisure time is not included in GDP.

    Explanation:

    Gross domestic product or GDP includes the value of final goods and services produced in an economy in a year. It does not include the value of intermediate goods to prevent double counting. It also does not include the value of second-hand goods.

    The value of pollution, crime, leisure, etc. are also not included as they are difficult to express in monetary terms.
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