Which of the Following Is Not a Shortcoming of GDP

question 67

Multiple Choice

Which of the following is not a shortcoming of GDP accounts?

• A)GDP omits the entire value added by members of a household who do household work themselves.
• B)No value is placed on leisure despite the fact that in general, more leisure leads to higher satisfaction.
• C)GDP includes only production by the private sector and not government production.
• D)GDP accounts ignore the impact of pollution on the environment.

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Definitions:

Post-Purchase Processes

The series of steps and activities that occur after a consumer has bought a product, including evaluation of satisfaction and potential for repeat purchase.

Consumption Awareness

Consciousness regarding the impact of one’s consumption habits on economic, environmental, and social aspects.

Differentiated Marketing

A marketing strategy in which a company targets several market segments with a unique product or service offering for each.

Product Specialization

A strategy where a business focuses on the production and development of a particular product or range of products, often to achieve higher levels of efficiency and expertise.