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MyLab and Mastering Take a Test - Alannah Molenda Secure https://www.mathxl.com/Student/PlayerTest.aspx?testld 187622373¢erwin yes This Question: 1 pt 11 of 40 (37 complete) Which of the following is not a shortcoming of GDP as a measure of well-being? nm OA· O B. GDP does not include the value of leisure. GDP is not adjusted for crime and other social problems. ion aO c. GDP only counts final goods and services and not intermediate goods. O D. GDP is not adjusted for the effects of pollution caused by the production of goods and services. If Americans still worked 60-hour weeks, as they did in 1890, O A. GDP would be lower than it is, but the well-being of the typical person would be higher. 0 B. both GDP and the well-being of the typical person would be lower than they are. O c. GDP would be much higher than it is, but the well-being of the typical person would not necessarily be higher. O D. both GDP and the well-being of the typical person would be much higher than they are. Click to select your answer.Explanation / Answer
Answer : Option C is correct. GDP has only count final goods and services and not intermediate goods. It has only taken into an account value of final goods and services. It is not there shortcoming but it provides us the true picture of an economy.
Answer : Option C is correct. If American worked 60 hours week, as they did in 1890 than GDP would be much higher than it is, but the well being of the typical person would not be higher . If person works most of the time than there income has been increased. But here living standard may or may not increase at same phase or level.
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