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:

Eggs

Reproductive cells produced by female organisms in many species, including birds, reptiles, amphibians, most fish, and certain mammals; also, a common food source.

Prereproductive Individuals

Members of a population who are at a life stage before they have reached sexual maturity and are capable of reproduction.

Fertility Rate

The average number of children born to a woman over her lifetime within a population.

Population

A group of individuals of the same species living in the same area and capable of interbreeding.