GDP Is a Poor Measure of Social Well-Being Because

question 168

Multiple Choice

GDP is a poor measure of social well-being because

• A)the value of leisure time is not counted in GDP
• B)revenue earned on U.S.exports is ignored
• C)each dollar of government spending is valued at less than one-half of private spending
• D)consumer spending is more important than business spending and should be considered more valuable
• E)it values products at their market prices but ignores services produced

---

Definitions:

Deck Of Cards

A set of 52 cards typically divided into four suits, used for playing various games.

Probability Model

A mathematical representation or framework that describes the possible outcomes of a random phenomenon and the likelihood of each outcome.

Number Of Storms

The count of storm events within a specified area and time period.

Month Of August

The eighth month of the Gregorian calendar, following July and preceding September, typically associated with the summer season in the northern hemisphere.