In Evaluating an Economy's Performance Over a Period of Years,real

question 129

Multiple Choice

In evaluating an economy's performance over a period of years,real GDP provides a better measuring rod than GDP because

• A)GDP is distorted by its failure to show qualitative improvements in the products we manufacture.
• B)real GDP is adjusted for the social and environmental costs of production,which are normally not compensated.
• C)real GDP includes such productive endeavors as housewife services and home repairs that are performed by households without payment.
• D)GDP reflects changes in prices as well as changes in output.

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Definitions:

Abilities

The natural or acquired skills and talents that individuals possess.

Behaviours

The range of actions and mannerisms made by individuals or organisms in conjunction with themselves, others, or the environment.

HR Managers

Professionals responsible for overseeing human resources functions within an organization, including recruitment, training, evaluation, and compliance with labor laws.

Streamlining Costs

The process of reducing operating expenses by simplifying procedures, optimizing resources, and improving efficiency.