APFIVE Limitations Of GDP In Measuring Well-Being
One limitation of GDP as a measure of economic well‐being is that:
A
It measures only the production of private goods and completely ignores public services.
B
It counts transfer payments as if they were payments for newly produced goods and services.
C
It includes illegal activities that distort the true level of economic output.
D
It does not account for income inequality among individuals in the economy.
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