Answer to Question #184379 in Macroeconomics for Allen W.

Question

Which of the following statements regarding real GDP is true?

1.Real GDP is not adjusted for inflation

2.Real GDP only includes all things that contribute to happiness.

3.Real GDP takes a country’s population into account.

4.Real GDP is an imperfect measure of quality of life.

5.Real GDP reflects how a country uses output to affect living standards

Answer 1

Answer:option (4)

Real GDP is an imperfect measure of quality of life.