GDP is not a perfect measure of well-being; for example, GDP incorporates a larg
ID: 1114768 • Letter: G
Question
GDP is not a perfect measure of well-being; for example,
GDP incorporates a large number of non-market goods and services that are of little value to society.
GDP places too much emphasis on the value of leisure.
GDP fails to account for the quality of the environment.
All of the above are correct.
a.GDP incorporates a large number of non-market goods and services that are of little value to society.
b.GDP places too much emphasis on the value of leisure.
c.GDP fails to account for the quality of the environment.
d.All of the above are correct.
Explanation / Answer
Answer
Option c
GDP fails to account for the quality of the environment
GDP measures the only value of final goods and services and it does not accommodate the quality of the environment, life expectancy, health etc.
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