Which of the following is a drawback of using gross domestic product (GDP) per capita as a measure of economic welfare?
A) It does not show the average income earned per person in the country.
B) It does not throw any light on the distribution of income in the economy.
C) It includes the value of income earned from illegal activities such as smuggling and trafficking.
D) It includes the value of non-monetary transactions in the economy.
Correct Answer:
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Q1: The level of gross domestic product (GDP)
Q3: Which of the following is likely to
Q4: The difference between gross domestic product (GDP)
Q5: A retailer sells a good to a
Q6: If higher GDP stems from an increase
Q7: Other things unchanged, which of the following
Q8: A decline in interest rates leads to
Q9: Double counting can be avoided by:
A) deducting
Q10: If there is an increase in aggregate
Q11: If there is an increase in aggregate
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