Real GDP Does Not Show the State of Economic Welfare

question 194

Multiple Choice

Real GDP does not show the state of economic welfare in a country in part because GDP omits
I. household production.
II. leisure time available.
III. the quality of the environment.

• A) I and III
• B) II and III
• C) I, II and III
• D) I only

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Definitions:

Nervous System

The body’s electrochemical communication circuitry.

Pulmonary

Related to the lungs or the respiratory system.

Endocrine

Pertains to the system of glands that release hormones directly into the bloodstream to regulate bodily functions.

Respiratory

Pertaining to the process of inhaling oxygen and exhaling carbon dioxide from the body.