Which one of the following is NOT a shortcoming of measuring the economy using gross domestic product (GDP)? a) Only goods and services with a market price are Included in the calculations. b) The gross domestic product (GDP) cannot account for the effect that inflation has on the economy. c) Activities in the informal sector are often not taken into account. d) An increase in expenditure from the perspective of the gross domestic product (GDP) often does not consider the economic welfare of such increases.

Which one of the following is NOT a shortcoming of measuring the economy using gross domestic product (GDP)? a) Only goods and services with a market price are Included in the calculations. b) The gross domestic product (GDP) cannot account for the effect that inflation has on the economy. c) Activities in the informal sector are often not taken into account. d) An increase in expenditure from the perspective of the gross domestic product (GDP) often does not consider the economic welfare of such increases.

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter19: Measuring Economic Performance

Section: Chapter Questions

Problem 2P: Which of the following are included in GDP calculations? a. Cleaning services performed by Molly...

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