GDP growth as a measure of development is unreliable becausebegin{enumerate}item it does not include environmental degradation.item it does not measure growth in incomes.item it does not measure increase in jobs.end{enumerate} Select the correct answer using the codes given below:

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

GDP growth as a measure of development is unreliable because

A	2 and 3
B	1 and 2
C	1 and 3
D	Only 3

Explanation:

Detailed explanation-1: -Many key goods, including peacefulness, environmental protection or family bonding, are not measured in GDP because they do not involve transactions. In fact, GDP includes pollution, crime, the health costs of cigarettes and environmental disasters as ‘growth’ because they generate spending.

Detailed explanation-2: -Considering limitations of GDP-based growth accounting in capturing the impact of climate change, the significance of Green GDP which adjusts for environmental deterioration and waning natural resources into estimates of national income accounts, has grown manifold.

Detailed explanation-3: -Which of the following is considered to be a problem in using GDP as a measure of national well-being? GDP is not adjusted to account for depletion of natural resources.

There is 1 question to complete.