Which is an argument explaining why economic growth may not be slowing down in high-income countries even though growth statistics seem to indicate that it is slowing down?
A) Some products that people are using are not purchased and thus do not show up in GDP, such as using the Internet for directions rather than buying maps.
B) High-income countries have been emphasizing manufacturing, which has had jobs lost to automation while giving less emphasis to services.
C) GDP appears stagnant because of offsetting changes in prices and output. Prices have been falling while output rises.
D) The computation method for estimating GDP has been adjusted in ways that give a smaller role to the sectors in which high-income countries are most productive.
Correct Answer:
Verified
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