GDP is a poor measure of social well-being because
A)the value of leisure time is not counted in GDP
B)revenue earned on U.S.exports is ignored
C)each dollar of government spending is valued at less than one-half of private spending
D)consumer spending is more important than business spending and should be considered more valuable
E)it values products at their market prices but ignores services produced

Question

Quizplus · Accepted Answer

GDP only measures the value of goods and services produced in an economy, and does not take into account non-market activities such as household work or leisure time, which can be important for social well-being.

GDP Is a Poor Measure of Social Well-Being Because