GDP Is Not a Perfect Measure of Economic Welfare Because

question 47

Multiple Choice

GDP is not a perfect measure of economic welfare because it:

• A) double-counts overall spending.
• B) treats a dollar spent on exports the same as a dollar spent on imports.
• C) double-counts the value of leisure time.
• D) treats a non-market transaction as if it did not exist.

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Definitions:

Traumatic Memories

Painful recollections that are emotionally overwhelming and may persist, leading to stress and disorder such as PTSD.

Dissociation

A psychological condition or process where a person disconnects from their thoughts, feelings, memories, or sense of identity.

Repress

To repress is to unconsciously block unpleasant feelings, desires, or experiences from one's conscious mind.

Repressed Memories

Recollections that are subconsciously suppressed because they are linked to intense stress or traumatic events.