Question

Over time, more care labor has left the home to be provided through the market, including...

Over time, more care labor has left the home to be provided through the market, including restaurants, schools, hospitals and long-term care facilities. Discuss how this shift might distort our measure of national income, and our measure of the change in national income over time.

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sol: Shift of labor from market to their home will lead to rise in demand of labor and shortage of supply or labor. Due to which it will lead to rise in the wage price of labor and will increase the input cost of production and .ake the good expansive.

Rise in the price of good will lead to fall in quantity demanded and will reduce the Aggregate demand. Due to which GDP will fall down and affect the national income of the country.

National income of the country will get reduce.

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