One Major Reason That GDP Is an Inaccurate Measure of the "Quality

question 86

Multiple Choice

One major reason that GDP is an inaccurate measure of the "quality of life" is that

• A)people frequently buy things they do not want.
• B)it does not include the value of leisure.
• C)it is statistically very inaccurate.
• D)it cannot be adjusted for changes in prices.
• E)it includes net exports.

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Definitions:

Socioeconomic Status

A social standing or class of an individual or group often measured by education, income, and occupation.

IQ

Short for Intelligence Quotient, a measure of a person's cognitive abilities in relation to their age group.

Intelligence Test Scores

Quantitative measurements acquired from assessments designed to evaluate cognitive abilities and intellectual potential.

Household Incomes

is the combined gross income of all members of a household who are 15 years old and over, whether related or not.