Asked by bresha willis on May 22, 2024
Verified
Gross domestic product (GDP)does not reflect many things that individuals do for themselves.
Gross Domestic Product (GDP)
The sum total of the market or economic value of all products and services finalized within a country's geographical limits during a defined period.
- Analyze the deficiencies of Gross Domestic Product (GDP) in gauging the wealth of society and the growth of the economy.
Verified Answer
AA
ahmad addasiMay 25, 2024
Final Answer :
True
Explanation :
GDP only accounts for economic activities that take place in the market and are monetized. It does not reflect non-market activities such as household production or volunteering.
Learning Objectives
- Analyze the deficiencies of Gross Domestic Product (GDP) in gauging the wealth of society and the growth of the economy.
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