To better measure economic well being, GDP needs to:
A)find better ways to estimate the value of leisure.
B)estimate and factor in the value of the underground economy.
C)factor in externalities.
D)do any or all of the above.

Question

To better measure economic well being, GDP needs to:
A)​find better ways to estimate the value of leisure.
B)​estimate and factor in the value of the underground economy.
C)​factor in externalities.
D)​do any or all of the above.

Quizplus · Accepted Answer

All of the choices - estimating the value of leisure, accounting for the underground economy, and factoring in externalities - can help to provide a more accurate measure of economic well-being. None of them alone are sufficient, and they all have their limitations, but together they can give a more comprehensive picture of the state of an economy.

To Better Measure Economic Well Being, GDP Needs To