Answered: "In 2022, India's GDP was $3, 386.4…

Macroeconomics

13th Edition

ISBN:9781337617390

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter7: Macroeconomic Measurements, Part Ii: Gdp And Real Gdp

Section7.2: The Expenditure Approach To Computing Gdp For A Real World Economy

Problem 3ST

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"In 2022, India's GDP was $3, 386.4 billion whereas its GNP was $3, 370.15 billion". Why should India be cautious about
using Gross Domestic Product (GDP) as the primary measure of economic growth?
A. GDP does not account for the
value of services, only goods.
B. GDP provides an accurate reflection of income inequality.
C. GDP does not consider changes in a country's population.
D. GDP is unaffected by changes in government policies.

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