GDP tends to overstate economic well-being because it takes into account:
A. All of the illegal activities conducted by organized crime in the economy
B. Spending on intermediate goods that are used to produce final goods
C. Total spending to deal with the adverse health effects of some products
D. The personal labor time that car owners spend working on car repairs and maintenance of
their vehicles
C. Total spending to deal with the adverse health effects of some products
You might also like to view...
Approximately how many U.S. workers received Trade Adjustment Assistance from 1994 to 2002 as a result of job losses due to NAFTA?
a. 525 million b. 52.5 million c. 5.25 million d. 0.525 million
The circular flow of income shows that GDP can be measured as the sum of wages, interest, rent, and profits received by households or total expenditures on goods and services by households, firms, government, and the rest of the world
Indicate whether the statement is true or false