Explanation:

- Non-monetary transactions: GDP doesn't account for transactions that occur without monetary exchange, such as household labor or volunteer work, which can enhance welfare significantly.

- Internationalities: Externalities like pollution are not factored into GDP. Economic activities that increase GDP may also cause environmental harm that reduces overall welfare.

- Composition and distribution of GDP: GDP measures total output but doesn't reflect how that wealth is distributed. Inequality within a country may mean that increases in GDP don't benefit everyone.

- All of these: All the mentioned factors make GDP an imperfect measure of welfare, affecting its accuracy in depicting actual well-being.

.