"In 2022, India's GDP was $3, 386.4 billion whereas its GNP was $3, 370.15 billion". Why should India be cautious about using Gross Domestic Product (GDP) as the primary measure of economic growth? A. GDP does not account for the value of services, only goods. B. GDP provides an accurate reflection of income inequality. C. GDP does not consider changes in a country's population. D. GDP is unaffected by changes in government policies.
"In 2022, India's GDP was $3, 386.4 billion whereas its GNP was $3, 370.15 billion". Why should India be cautious about using Gross Domestic Product (GDP) as the primary measure of economic growth? A. GDP does not account for the value of services, only goods. B. GDP provides an accurate reflection of income inequality. C. GDP does not consider changes in a country's population. D. GDP is unaffected by changes in government policies.
Chapter7: Macroeconomic Measurements, Part Ii: Gdp And Real Gdp
Section7.2: The Expenditure Approach To Computing Gdp For A Real World Economy
Problem 3ST
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"In 2022, India's GDP was $3, 386.4 billion whereas its GNP was $3, 370.15 billion". Why should India be cautious about
using
A. GDP does not account for the
value of services, only goods.
B. GDP provides an accurate reflection of income inequality.
C. GDP does not consider changes in a country's population.
D. GDP is unaffected by changes in government policies.
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