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What should be examined to assess welfare when GDP rises?

Answer and explanation

Correct answer: Income distribution and quality of life

GDP records the value of output, but it does not show who receives the resulting income or whether living conditions improve. To assess welfare, examine income distribution, health, education, employment and quality of life. Therefore option B is correct. Country size, the currency’s name and the length of the year do not reveal how growth affects people.

Related tags

Gdp And WelfareIncome DistributionQuality Of LifeNational Income And Related AggregatesEconomicsClass 11 Mcq

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