ECO205: (National Economy and Growth) Discuss how Alex marriage to Maria affected the country’s Gross Domestic product
Module / Subject / School:
ECO205: National Economy and Growth
Requirements:
Alex is a 56-year-old widower with three children aged 7, 9 and 13. The children’s mother passed away 5 years ago. Alex works long hours and travels for work regularly. His annual income is around SGD $350,000 per annum, and he lives in a landed property with a large garden in Singapore. After his wife passed away, Alex hired Maria as nanny for the children and house manager. Maria is a Singapore permanent resident (PR). She is a divorcee with a 20-year-old son. Maria and her son stay at Alex house.
Maria is paid S$1,500 per month plus a 13th month annual bonus with CPF contributions. Maria’s son does the gardening work once a week for a monthly allowance of S$500/- (without any CPF). Maria got on well with Alex and the children, and Alex recently married her. After the marriage, Alex stopped paying Maria a salary for looking after the children and the house. He, however, continues paying the son for the gardening work. Alex hired a foreign domestic worker to help Maria with the housework after the marriage.
Discuss how Alex marriage to Maria affected the country’s Gross Domestic product
What we score:
77%
Our Writer’s Comment
Start by briefly explaining what GDP is—essentially, the total value of goods and services produced in a country. This sets the stage for your analysis and shows that you understand the basic concept.
Next, dive into how Alex’s marriage to Maria changes the situation. Before the marriage, Maria’s salary contributed to GDP because it was a paid service, and so did the allowance paid to her son, although this might be considered informal or underreported income. However, after the marriage, Alex stopped paying Maria a salary for her work. This change means that Maria’s contributions as a nanny and house manager are no longer counted in GDP because they are no longer paid services—they’ve become part of household production, which isn’t included in GDP calculations.
You should also discuss the continued payment to Maria’s son and the hiring of a foreign domestic worker. The son’s gardening work still contributes to GDP, and the wages paid to the foreign domestic worker also add to GDP. However, the overall effect is likely a reduction in GDP contribution compared to when Maria was paid a formal salary.
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