Question
Identify a limitation of using gross domestic product (GDP) as a measure for development.(1 point)
Responses
It doesn’t account for the value of services in the economy.
It doesn’t account for the value of services in the economy.
It doesn’t account for income distribution.
It doesn’t account for income distribution.
It overemphasizes environmental sustainability.
It overemphasizes environmental sustainability.
It overemphasizes health indictors such as life expectancy.
Responses
It doesn’t account for the value of services in the economy.
It doesn’t account for the value of services in the economy.
It doesn’t account for income distribution.
It doesn’t account for income distribution.
It overemphasizes environmental sustainability.
It overemphasizes environmental sustainability.
It overemphasizes health indictors such as life expectancy.
Answers
GPT-4o mini
One key limitation of using gross domestic product (GDP) as a measure for development is that **it doesn’t account for income distribution.** This means that GDP can increase while income inequality widens, leading to a situation where overall economic growth does not necessarily reflect improvements in the well-being of all individuals within the society.