Which of the Following Is Not a Problem Associated with GDP

question 67

Multiple Choice

Which of the following is not a problem associated with GDP as a measure of social welfare?

• A)It excludes many nonmarket activities.
• B)It values all types of output equally.
• C)It excludes pollution damage.
• D)It excludes intermediate goods as a separate entry.
• E)It excludes the value of leisure time.

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Definitions:

Dominant Response

The reaction that is most likely to be exhibited by an individual in a given situation due to its strength or frequency of reinforcement.

Ingroup Bias

The inclination to prefer individuals from one's own group above those from outsider groups, frequently resulting in bias and unfair treatment.

Free Riders

Individuals or entities that benefit from resources, goods, or services without paying for them or contributing to their provision.

Common Resource

A type of good that is accessible to all members of a community or society but is susceptible to overuse and depletion.