1. One can question whether an increase in real GDP always means that consumer welfare has improved. Which of the following would support that statement? a. There is no accounting for declines in purchasing power with real GDP data. b. GDP puts too much emphasis on transfer payments say many economists. c. There is too much extraneous data that enters into the calculation of GDP such as goods that are part of the underground economy. d. Some goods produced may have market value but the use of these goods can harm people (e.g. cars that emit pollution.)