Gross Domestic Product (GDP) Is a Poor Measure of Social

Multiple Choice

Gross domestic product (GDP) is a poor measure of social well-being because _____

A) the value of leisure time is excluded from GDP accounting.
B) the revenue earned through exports is ignored.
C) each dollar of government spending is valued at less than one-half of private spending.
D) consumer spending is more important than business spending and should be considered more valuable.
E) it values products at their market prices but ignores services produced.