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

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

Options:

  1. It includes illegal transactions
  2. It does not account for income inequality
  3. It measures only production
  4. It includes non-market transactions

Correct Answer: It does not account for income inequality

Solution: 

A limitation of GDP is that it does not account for income inequality, which can provide a misleading picture of economic well-being.

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?
No concepts available.
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