Post Utme Unilorin 2020 Economics Question 11

Practice objective / multiple choice question 11 from the 2020 Post Utme Unilorin Economics examination.

Post Utme Unilorin 2020 Economics Objective / Multiple Choice
Question 11 POST_UTME_UNILORIN • 2020 • ECONOMICS • objective

A country's GDP is calculated as the sum of the value of all final goods and services produced within its borders. However, if a country imports a significant amount of goods and services, its GDP may not accurately reflect its s\tandard of living. Which of the following is a limitation of GDP as a measure of a country's s\tandard of living?

Answer Options

A. GDP does not account for income inequality.
B. GDP does not account for the value of unpaid household work.
Correct Answer C. GDP does not account for the value of imports.
D. GDP does not account for the value of exports.
Correct Answer
C
Correct Option:
GDP does not account for the value of imports.

About This Question

This is Post Utme Unilorin 2020 Economics Question 11. It is one of the objective questions from the 2020 Post Utme Unilorin Economics examination.

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