Family, Household & Gender Economics: Checkpoint 1

Quick checkpoint - five questions on home production, the cost of children, fertility, the pay gap and childcare.

Question 1 of 5 Why is unpaid household work left out of GDP?

Because it has no economic value Because it is not bought or sold in a market Because only men do it Because governments have banned counting it

GDP mostly counts market transactions, so valuable unpaid work like cooking and caring is left out.

Question 2 of 5 What is often the largest cost of raising a child?

Toys and clothing School uniforms The time and lost earnings of parents Birthday parties

The opportunity cost of time, especially lost earnings for mothers, often exceeds direct spending.

Question 3 of 5 Which factor helps explain falling fertility rates?

Higher child mortality A rising opportunity cost of time as women gain education and better jobs More families living on farms Fewer pensions

As the value of time rises, raising many children becomes more costly.

Question 4 of 5 What did Claudia Goldin find about the modern gender pay gap?

It is mostly caused by women being paid less on the same day for the same job It has completely disappeared Much of it grows after children, linked to jobs that reward long, inflexible hours It only exists in poor countries

Goldin highlighted greedy jobs that pay disproportionately more for long, unpredictable hours.

Question 5 of 5 Why is childcare expensive even though childcare workers are poorly paid?

Because providers make huge profits Because young children need low staff-to-child ratios, and productivity is hard to raise Because childcare is heavily taxed Because parents demand luxury facilities

Each worker's cost is shared among few families, and one adult cannot safely care for many more children.

← Back to The Economics of Childcare Next lesson → Who Decides? Bargaining Inside the Household

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