GDP Would Be a Better Measure of Economic Well-Being If

question 128

Multiple Choice

GDP would be a better measure of economic well-being if it included:

• A)the costs of education.
• B)the total value of intermediate goods.
• C)the market value of final goods.
• D)the value of leisure.

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Definitions:

Coefficient of Determination

This statistic measures the proportion of the variance in the dependent variable that is predictable from the independent variable(s).

Correlation Coefficient

A statistical measure that calculates the strength of the relationship between the relative movements of two variables, ranging from -1 to 1.

Gender

A social construct that pertains to the roles, behaviors, activities, and attributes that a given society considers appropriate for men and women.

Employee Productivity

A measure of the output or achievements of an employee within a specified period of time, often related to the efficiency and effectiveness of work performed.