Which of the Following Is a Problem Associated with Gross

question 63

Multiple Choice

Which of the following is a problem associated with gross domestic product (GDP) as a measure of social welfare?

• A)It includes many nonmarket activities.
• B)It takes into account the value of only those goods which are widely used.
• C)It takes into account the cost of environmental damage caused by pollution.
• D)It includes intermediate goods as a separate entry.
• E)It excludes the value of leisure time.

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Definitions:

Psychographics

The study and classification of people according to their attitudes, aspirations, and other psychological criteria, especially in market research.

Psychographic Segmentation

The process of dividing a market into segments based on consumer personalities, values, attitudes, interests, or lifestyles.

U.S. Census Bureau

A principal agency of the U.S. Federal Statistical System responsible for producing data about the American people and economy.

Population Shifts

Changes in the size, distribution, and composition of a population over time, affecting various aspects of society and economy.