#1
How does GDP fail to capture the quality of life in a society?
It considers only material wealth.
ExplanationGDP overlooks non-material aspects such as leisure time and social connections.
#2
In what way does GDP fail to consider the value of leisure time?
It disregards the importance of leisure for well-being.
ExplanationGDP does not account for the subjective value of leisure time in individuals' lives.
#3
What is one limitation of using GDP as a measure of happiness and life satisfaction?
GDP doesn't consider the role of social relationships.
ExplanationGDP overlooks the importance of social connections in determining happiness and life satisfaction.
#4
Which dimension of well-being does GDP often overlook?
Social relationships
ExplanationGDP tends to ignore the impact of social relationships on overall well-being.
#5
In what way does GDP fail to account for the value of leisure time?
It disregards the importance of leisure for well-being.
ExplanationGDP does not incorporate the value individuals place on leisure activities when assessing overall well-being.
#6
What is one limitation of using GDP as a measure of societal well-being?
GDP includes only monetary transactions.
ExplanationGDP disregards non-monetary aspects like health and education.
#7
Which factor is not considered in GDP calculations?
Environmental sustainability
ExplanationGDP neglects environmental impact and sustainability.
#8
Which component of GDP often leads to environmental degradation?
Consumer spending
ExplanationConsumer spending fuels resource depletion and pollution, harming the environment.
#9
What does GDP not consider when assessing the well-being of a population?
Crime rates
ExplanationGDP overlooks social factors like crime rates, which impact citizens' well-being.
#10
Why is GDP considered an imperfect measure of a country's economic performance?
It neglects non-market activities.
ExplanationGDP fails to capture contributions from non-market activities, distorting economic performance metrics.
#11
Why does GDP fail to account for informal or black market activities?
They are difficult to measure and track.
ExplanationGDP struggles to quantify illicit transactions.
#12
Which of the following is a social factor not considered by GDP?
Life expectancy
ExplanationGDP omits indicators of societal health and well-being like life expectancy.
#13
Why is GDP criticized for not reflecting income inequality?
It only considers the average income.
ExplanationGDP's focus on average income masks disparities in wealth distribution.
#14
Which factor is often overemphasized by GDP in assessing societal well-being?
Economic growth
ExplanationGDP prioritizes economic growth over other indicators of societal well-being.
#15
Which of the following is an example of an externality that GDP might not capture?
Pollution from industrial production
ExplanationGDP often overlooks negative externalities like pollution, which impact societal well-being.