GDP Is Not a Perfect Measure of Social Welfare and the Society's

question 233

Multiple Choice

GDP is not a perfect measure of social welfare and the society's economic well-being because

• A) it does not say anything about the distribution of income.
• B) GDP accounting rules do not adjust for production that causes negative externalities.
• C) it does not include all economic activities in the economy.
• D) all of the above

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Definitions:

Fitness

A measure of an organism's ability to survive and reproduce, influencing the genetic contribution to the next generation.

Optimality Theory

A theoretical framework in evolutionary biology and behavioral ecology that predicts how organisms should behave to maximize their fitness or success in an environment.

Seed-eating Bird

Birds that primarily feed on seeds; this feeding behavior influences their habitat preferences, migration patterns, and physical adaptations like beak shape.

Solitarily

Pertains to behaviors or lifestyles where an organism lives alone, or functions independently, often for reasons related to survival or reproduction.