is an alternate measure of well-being currently used that incorporates GDP, but does not rely exclusively on income as a measure of well-being.

Per Capita Real GDP

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HDI

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National Income

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GDP Deflator

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Solution

The correct option is B HDI
HDI is a measure of well-being that includes health (measured with life expectancy), wealth (measured with GDP per capita), and education (measured with an education index), that can be used to compare countries' social and economic development, as well as track this development over time.

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Similar questions

Which of the following is an alternate measure of well-being currently used that incorporates GDP, but does not rely exclusively on income as a measure of well-being?

Q. 17. Which of the following statement(s) is/are correct about GDP Deflator?
1. The GDP Deflator measures the ratio of nominal to real GDP.
2. GDP Deflator measures the change in the price level between the base year and the current year.
3. GDP deflator does not include prices of imported goods.
Correct answer code is:

Q. __________ is measured in terms of Real GDP per Capita.

Per capita income cannot be a true measure of development. Why?

Q. In an undeveloped economy, the level of human well being measured in terms of real income, health and education is _______.

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