Multiple Choice Questions on Assertion With every increase in the level of GDP social welfare definitely increases in the ec........... for Common University Entrance Test (CUET) Preparation

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Multiple Choice Questions

Assertion With every increase in the level of GDP social welfare definitely increases in the ec...........

Economics (CUET) National Income Accounting
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    Assertion: With every increase in the level of GDP, social welfare definitely increases in the economy. 

    Reason (R): GDP is not a true indicator of welfare of the economy.

     

    Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of the Assertion (A).
     

    Incorrect Answer

    Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of the Assertion (A).
     

    Incorrect Answer

    Assertion (A) is true, but Reason (R) is false.
     

    Incorrect Answer

    Assertion (A) is false, but Reason (R) is true.

    Correct Answer
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    Explanation:

    Option (4) is correct.
    Explanation: GDP is a flawed measure of human welfare, e.g., if increase in the level of GDP is associated with higher level of income inequality, social welfare may not increase.
     

    By: Parvesh Mehta
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