Econ 4th Edition by William McEachern

Exercise 3

LIMITATIONS OF NATIONAL INCOME Accounting Explain why each of the following should be taken into account when GDP data are used to compare the "level of well-being" in different countries:
a. Population levels
b. The distribution of income
c. The amount of production that takes place outside of markets
d. The length of the average work week
e. The level of environmental pollution