How does the GDP (Gross Domestic Product) differ from the GPI (Genuine Progress Indicator)?
a. The GDP reflects only a single calendar year, while the GPI looks at historical trends and projects into the future.
b. The GPI takes into account externalities (both good and bad) and other nonmarket values, while the GDP does not.
c. GDP does not include items bought and sold over the Internet. Critics say that this makes the GDP out-of-date and came up with the GPI to add these purchases into the calculations.
d. GPI reflects the total value of goods and services, while the GDP focuses only on the goods produced
Ans: b. The GPI takes into account externalities (both good and bad) and other nonmarket values, while the GDP does not.
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