Business, 02.03.2020 17:13 makayyafreeman
Every five years, the Bureau of Economic Analysis (BEA) revises past GDP figures and the methodology involved in computing national income. In June 2013, the BEA decided to increase the weighting given to the creation of intellectual property in the national income accounts. This means that the intellectual property involved in the creation of books, movies, photographs, and even greeting cards will be included in GDP. Moreover, the initial cost of producing intellectual property will be treated as a capital investment and future flows of revenue from the book or TV show will be added later on. What are the possible difficulties that the BEA could face with this new approach?
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Every five years, the Bureau of Economic Analysis (BEA) revises past GDP figures and the methodology...
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