Identify a limitation of using gross domestic product (GDP) as a measure for development.(1 point)

Question

Identify a limitation of using gross domestic product (GDP) as a measure for development.(1 point)

Responses

It doesn’t account for income distribution.
It doesn’t account for income distribution.

It overemphasizes health indictors such as life expectancy.
It overemphasizes health indictors such as life expectancy.

It doesn’t account for the value of services in the economy.
It doesn’t account for the value of services in the economy.

It overemphasizes environmental sustainability.

Answer 1

It doesn't account for non-market transactions or informal economies.

Answer 2

I apologize for the confusion. The limitation of using GDP as a measure for development is that it doesn't account for non-market transactions or informal economies. These are economic activities that are not officially recorded and therefore not included in the calculation of GDP.

Identify a limitation of using gross domestic product (GDP) as a measure for development.(1 point)

It doesn't account for non-market transactions or informal economies.

wha

I apologize for the confusion. The limitation of using GDP as a measure for development is that it doesn't account for non-market transactions or informal economies. These are economic activities that are not officially recorded and therefore not included in the calculation of GDP.