GDP is not a perfect measure of social welfare and the society's economic well-being because
A) it does not say anything about the distribution of income.
B) GDP accounting rules do not adjust for production that causes negative externalities.
C) it does not include all economic activities in the economy.
D) all of the above

Question

Quizplus · Accepted Answer

GDP does not take into account income distribution, negative externalities caused by production, and informal economic activities, all of which can have significant impacts on social welfare and economic well-being.

GDP Is Not a Perfect Measure of Social Welfare and the Society's