Briey explain how each of the following events is likely to

Briey explain how each of the following events is likely to afect real GDP. Do you think the changes in real GDP reects a similar change in economic well-beings? (a) A hurricane in Ontario forces Canada\'s Wonderland to shut down for a month. (b) The government passes new environmental laws that prohibit firms from using production methods that emit large quantities of pollution. (c) More high-school students drop out of school to take jobs mowing lawns. (d) Fathers around the country reduce their workweeks to spend more time with their children.

Solution

(b) The government passes new environmental laws that prohibit firms from using production methods that emit large quantities of pollution.