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

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Definitions:

Behaviorism

The school of psychology that defines psychology as the study of observable behavior and studies relationships between stimuli and responses.

Humanism

The view that people are capable of free choice, self-fulfillment, and ethical behavior.

Trait Theory

is a psychological perspective that suggests personality is composed of a number of broad traits, which are consistent patterns of thoughts, feelings, and behaviors.

Superego

In psychoanalytic theory, the part of the personality responsible for moral standards and self-critical judgment.