Even When Measured Accurately, GDP May Be a Misleading Measure

question 66

Multiple Choice

Even when measured accurately, GDP may be a misleading measure of economic welfare because it cannot account for

• A)the value of non-market production and the consequences of an unequal distribution of income.
• B)the value of government spending and how efficiently we produce goods and services.
• C)the cost of intermediate goods and services.
• D)the consequences of an unequal distribution of income and the value of government spending.
• E)how efficiently we produce goods and services and the value of non-market production.

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Definitions:

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A stage in Jean Piaget's theory of cognitive development, occurring between ages 7 and 12, where children gain a better understanding of mental operations and can think logically about concrete events.

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