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GDP is an imperfect measure of well-being because it a. includes physical goods produced but not intangible services. b. excludes goods and services provided by the government. c. ignores the environmental degradation from economic activity. d. is not correlated with other measures of the quality of life.

Chapter 23, Problem 12

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QUESTION:

GDP is an imperfect measure of well-being because it

a. includes physical goods produced but not intangible services.

b. excludes goods and services provided by the government.

c. ignores the environmental degradation from economic activity.

d. is not correlated with other measures of the quality of life.

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Questions & Answers

QUESTION:

GDP is an imperfect measure of well-being because it

a. includes physical goods produced but not intangible services.

b. excludes goods and services provided by the government.

c. ignores the environmental degradation from economic activity.

d. is not correlated with other measures of the quality of life.

ANSWER:

Step 1 of 2

Gross domestic product: The gross domestic product shows the total monetary value of the goods and services produced by a nation within the boundary in a given period.

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