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Question Practice

Which of the following is a challenge in using GDP as the sole measure of economic well-being?

Attempt the question, check the explanation, and continue with similar questions to build confidence before exams.

MCQ_SA
CBSE
Class 12
Economics
Introductory Macroeconomics
National Income Accounting
Question Bank

Which of the following is a ch...

Single Answer MCQ
Q-00106697

Which of the following is a challenge in using GDP as the sole measure of economic well-being?

1

It overestimates the economic output.

2

It ignores non-market transactions.

3

It includes negative externalities.

4

All of the above.

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Q1.

What does GDP stand for?

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Q2.

Which of the following is NOT included in GDP calculation using the expenditure method?

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Q3.

In the expenditure method, which component represents expenditures by households?

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Q4.

What is the formula for GDP using the expenditure method?

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