GDP does not measure the economic well-being of a nation because:
A)some things which contribute to well-being have no price tag
B)GDP places no value on leisure
C)ecological costs are not netted out of GDP
D)All of the above are correct.

Question

GDP does not measure the economic well-being of a nation because:
A)​some things which contribute to well-being have no price tag 
B)​GDP places no value on leisure 
C)​ecological costs are not netted out of GDP 
D)​All of the above are correct.

Quizplus · Accepted Answer

All of the choices listed contribute to why GDP does not measure the economic well-being of a nation. Some things that contribute to well-being, such as clean air and water or leisure time, do not have a monetary value and are not included in GDP. Additionally, GDP does not account for the ecological costs of economic activity, which can have negative effects on overall well-being.

GDP Does Not Measure the Economic Well-Being of a Nation