Economics · National Income Accounting
Match the limitation of GNP as a welfare index (P, Q, R, S) with its correct description: (P) Income Patterns (Q) Non-Monetary Exchanges (R) Externalities (S) Level of Population
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1P → GNP includes illegal income; Q → GNP ignores poverty; R → GNP ignores savings; S → GNP ignores depreciation
- 2P → GNP ignores barter; Q → GNP ignores pollution; R → High population lowers welfare; S → GNP benefits only few
- 3P → GNP ignores pollution; Q → GNP benefits only few; R → GNP ignores population; S → GNP ignores barter
- 4P → GNP rise may benefit only a few; Q → GNP ignores barter and household transactions; R → GNP fails to account for pollution/resource depletion; S → High GNP with high population results in low per-capita consumption✓
Correct answer
P → GNP rise may benefit only a few; Q → GNP ignores barter and household transactions; R → GNP fails to account for pollution/resource depletion; S → High GNP with high population results in low per-capita consumption
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