The gross domestic product is not a good measure of the standard of living in a nation because it
A)includes the cost of health insurance.
B)excludes payments for pollution control equipment.
C)does not account for the size of the population.
D)does not account for the cost of police protection.

Question

Quizplus · Accepted Answer

GDP does not consider the population size, so it doesn't reflect per capita income or distribution of wealth, which are important for assessing the standard of living.

The Gross Domestic Product Is Not a Good Measure of the Standard