Real GDP Is Not a Perfect Measure of Economic Well

question 51

Multiple Choice

Real GDP is not a perfect measure of economic well being because it excludes the value of all of the following EXCEPT:

• A) leisure time.
• B) goods and services available in the market economy.
• C) nonmarket economic activity.
• D) goods and services produced in the underground economy.

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Definitions:

Counterconditioning

A behavior therapy technique where an unwanted response is replaced with a more desirable one by associating the feared object with a new, more positive response.

Systematic Desensitization

A behavioral therapy technique used to reduce phobic responses through gradual exposure to the feared object or situation, combined with relaxation exercises.

Phobia

An exaggerated, unrealistic fear of a specific situation, activity, or object.

Cold Turkey

The abrupt cessation of a substance dependency and the resulting uncomfortable withdrawal symptoms.