Which of the following is NOT a problem in using GDP to measure standard of living?
A) failure to include environmental impacts
B) failure to include the value of nonmarket work
C) failure to include exports and imports
D) failure to include the value of investments in human capital

Question

Quizplus · Accepted Answer

While failing to include environmental impacts, the value of nonmarket work, and the value of investments in human capital are limitations of using GDP as a measure of standard of living, failure to include exports and imports is not a problem because these are already included in the calculation of GDP through the expenditure approach.

Which of the Following Is NOT a Problem in Using