9. What lower the significance of GDP as an index of welfare? – InterviewSolution

1.	9. What lower the significance of GDP as an index of welfare?
Answer» Despite several SHORTCOMINGS GDP is commonly used as an indicator of social welfare. ... As a result, GDP FAILS to account for non-market TRANSACTIONS, wealth distribution, the effects of externalities, and the types of GOODS or services that are being PRODUCED within the economy.

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