Which of the following is a limitation of GDP as a measure of national income?

Practice Questions

Q1
Which of the following is a limitation of GDP as a measure of national income?
  1. It includes illegal transactions
  2. It does not account for income inequality
  3. It measures only production
  4. It includes non-market transactions

Questions & Step-by-Step Solutions

Which of the following is a limitation of GDP as a measure of national income?
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