One of the limitations of the national income accounting system is:

A) valuing all output at its market price regardless of its contribution to society's economic welfare.
B) placing a market value on all negative externalities.
C) accurately measuring the value of leisure time.
D) double counting food produced on a farm for family consumption.
E) ignoring government production of goods and services.

National Income Accounting

A statistical approach that measures the overall economic activity and income of a country.

Economic Welfare

The overall well-being and standard of living of people in an economy, often measured by standards such as health, education, and income.

Negative Externalities

occur when the production or consumption of goods and services imposes costs on third parties not involved in the transaction.