Limitations of GDP
AP Macroeconomics · Flashcards · Recall
AP MACROECONOMICS · FLASHCARDS
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QUESTION
What is GDP's limitation in terms of international comparisons?
QUESTION
How does GDP treat disaster recovery spending?
QUESTION
What aspect of quality of life is not captured by GDP?
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ANSWER
GDP does not capture happiness or well-being. GDP measures production output, not subjective well-being indicators.
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