One of the problems with the definition of economic growth is that
A) it overstates economic growth because it does not account for leisure time.
B) it does not account for the distribution of income.
C) it overstates economic growth because it does not account for the reduction in work time.
D) it understates economic growth because it does not account for the reduction in work time.

Question

Quizplus · Accepted Answer

Economic growth is often measured by an increase in Gross Domestic Product (GDP), which only accounts for the total monetary value of all goods and services produced within a country's borders. It does not take into account how the gains are distributed among the population. Therefore, the definition of economic growth can be criticized for not considering the distribution of wealth and income, which is an essential factor in measuring the well-being of a society.

One of the Problems with the Definition of Economic Growth