Is GDP an Accurate Measure of a Country's Well Being

question 20

Multiple Choice

Is GDP an accurate measure of a country's well being?

• A)Yes, it is the best measure of national well being.
• B)Yes, provided we use real GDP and not nominal GDP.
• C)The answer is uncertain, depending on whether GDP is rising or falling.
• D)No, it is not.

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Definitions:

Parallel Form Reliability

A measure of reliability used to assess the consistency of the results of different forms of the same test.

Content Validity

Content Validity assesses whether a test or measurement tool accurately covers the content it is intended to measure, ensuring that all aspects of the construct are evaluated.

Construct Validity

The degree to which a test or tool measures the theoretical construct or trait it is intended to measure, reflecting its accuracy and appropriateness of inferences drawn from test scores.

Discriminant Validity

A property demonstrating that a test or scale that is not closely related to variables from which it is theoretically distinct.