A weakness in the concept of GDP is that it ignores income distribution.

Name: A weakness in the concept of GDP is that it ignores income distribution.
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Question

Quizplus · Accepted Answer

GDP only measures the total value of goods and services produced in a country, without taking into account how this wealth is distributed among the population. Therefore, a country could have a high GDP but still have significant income inequality, which can negatively impact social welfare, health, and economic stability.

A Weakness in the Concept of GDP Is That It