Problem
1. Why do government agencies collect data on GNP? Why are private citizens interested in this information? Is GNP data more useful than past data on climatic conditions (for example, monthly rainfall, average temperature, and average days of sunshine)? Explain.
2. What are some of the deficiencies of GNP as a measure of aggregate output? Why do national income accountants not correct these shortcomings?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.