GDP is not a perfect measure of economic welfare because it:
A) double-counts overall spending.
B) treats a dollar spent on exports the same as a dollar spent on imports.
C) double-counts the value of leisure time.
D) treats a non-market transaction as if it did not exist.
Correct Answer:
Verified
Q68: GDP figures tend to understate the quantity
Q69: GDP does not count:
A) the estimated value
Q70: GDP provides information about:
A) the total value
Q71: If a woman marries her hired helper
Q72: Which of the following transactions is not
Q74: Which of the following increases GDP?
A) More
Q75: Which of the following would not be
Q76: Which of the following is a shortcoming
Q77: GDP is not a perfect measure of
Q78: Because GDP does not account for improvements
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