Which of the following is NOT one of the problems with using GDP per capita to measure standard of living?
A) GDP does not include nonmarket production.
B) GDP does not account for the environmental and health impacts of production.
C) GDP does not account for the average amount of leisure time.
D) GDP does not include services.

Question

Quizplus · Accepted Answer

GDP includes both goods and services in its calculation, making choice D incorrect. Choices A, B, and C highlight genuine limitations of using GDP per capita as a measure of standard of living, as it does not account for nonmarket production, environmental and health impacts, or leisure time.

Which of the Following Is NOT One of the Problems