The Penn effect is the overestimation of the ratio of this quantity between countries when market exchange rates are used in conversion.
The SNA/ESA was a method for measuring this quantity in the late 1960s, which was based on work Richard Stone did in the 1940s. The Penn effect is the overestimation of the ratio of this quantity between countries when market exchange rates are used in conversion. Simon Kuznets wrote an early report on calculating this quantity, which he divided into twelve sectors and measured the relative weight of each sector as this quantity increased. James Tobin and William Nordhaus created MEW, which they claimed was a better measure of (*) welfare than this, and other alternatives as welfare measures include the human development index. The version of this quantity usually used in the United States today is the sum of consumption, investment, government spending, and net exports. For 10 points, name this measure of the total value of goods and services produced in a single country.
The SNA/ESA was a method for measuring this quantity in the late 1960s, which was based on work Richard Stone did in the 1940s.
national income (accept more specific things like "GDP" or "GNP")