Real GDP Does Not Show the State of Economic Welfare

question 14

Multiple Choice

Real GDP does not show the state of economic welfare in a country in part because GDP omits
I. household production.
II. leisure time available.
III. the quality of the environment.

• A) I only
• B) I and III
• C) II and III
• D) I, II and III

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Definitions:

Civil Liberties

Fundamental rights and freedoms protected by law against unwarranted governmental or other interference.

Fear Of Communism

The apprehension and suspicion towards communist ideology and its potential spread, especially prevalent during the Cold War era.

Cold War

A period of geopolitical tension between the Soviet Union and the United States and their respective allies from the late 1940s until the end of the Soviet Union in 1991.

Friendly Witness

An individual called to testify in a legal or legislative proceeding who is expected to support the position or perspective of the party calling them.