In an economy, the stock market and the housing market boomed in a given year. The annual stock market turnover reached a record high of $600 million and the transaction value of the second-hand...



In an economy, the stock market and the


housing market boomed in a given year. The annual stock market turnover reached a record high


of $600 million and the transaction value of the


second-hand property was about $400 million.


All these transaction values were twice the economy’s GDP in that year. To correct this measurement error, it was suggested that $1,000 million


should be added back to the economy’s GDP. Do


the transaction figures reflect a measurement error? Explain your answer.



May 26, 2022
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