GDP is
A)an imperfect measure of the standard of living.
B)a measure which includes the value of all newly produced goods and services.
C)a perfect measure of the standard of living.
D)the only factor that affects our standard of living.
E)a perfect measure of the value of production.

Question

Quizplus · Accepted Answer

GDP is an imperfect measure of the standard of living because it only measures economic activity and does not take into account factors such as income inequality, environmental degradation, and the quality of life.

GDP Is