Multiple Choice
Why may GDP figures be criticized for not being an accurate reflection of the economic welfare of a country?
A) They overstate economic welfare by not including certain nonmarket activities such as the productive work of homemakers.
B) They understate economic welfare by including expenditures undertaken to offset or correct pollution.
C) They understate economic welfare by not taking into account increases in leisure.
D) They overstate economic welfare by not reflecting improvements in product quality.
E) They understate economic welfare by not including depreciation.
Correct Answer:
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