Multiple Choice
Many things that society values, such as good health, high-quality education, enjoyable recreation opportunities and desirable moral attributes of the population, are not measured as part of GDP.
A) Therefore GDP is not a useful measure of society's welfare
B) However, GDP is still a useful measure of society's welfare because these other attributes are the responsibility of government
C) However, GDP is still a useful measure of society's welfare because it measures a nation's ability to purchase the inputs that can be used to help produce these contributors to welfare
D) Therefore GDP is not a useful measure of society's welfare unless is it measured per person
Correct Answer:

Verified
Correct Answer:
Verified
Q5: Macroeconomics is:<br>A)the study of economics at the
Q6: The difference between the values of final
Q7: Nominal GDP always grows faster than real
Q8: If nominal GDP increased by 11 per
Q9: Which of the following is not omitted
Q11: Statistics such as GDP, the unemployment rate,
Q12: Which of the following is not a
Q13: Real GDP is the production of goods
Q14: The goal of macroeconomics is:<br>A)to explain the
Q15: David's Microchip Company (DMC) produces microchips for