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Economists realize that some productive activities are not included in GDP. Which of the following explains why economists still use GDP as a measure of
Economists realize that some productive activities are not included in GDP. Which of the following explains why economists still use GDP as a measure of welfare?
A.
Without market prices, any value placed on these unmeasured activities will be subjective.
B.
All unmeasured activities are purposefully excluded to avoid double counting.
C.
All unmeasured activities occur in black markets, and are thus socially undesirable.
D.
With the passage of time, the BEA can gather more survey data to account for these unmeasured activities.
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