Question

The gross domestic product is not a good measure of the standard of living in a nation because it:_______.
A) Excludes payments for pollution control equipment
B) Includes the cost of health insurance
C) Does not account for the size of the population
D) Does not account for the cost of police protection

Answer 1

Answer:

C) Does not account for the size of the population

Explanation:

The Gross Domestic Product (GDP) of a country is the sum total of the monetary and marker value of all goods and services produced within the country's borders in a specific period. It is broadly used to measure a country's economic health.

Gross domestic product per capita(GDP per capita) measures standard living and not Gross domestic product. GDP per capita considers population in its measurement of standard living.