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4 marksNational Income Accounting

CSEC Economics · May/June 2015 · Paper 2 · Question 4(d)

Discuss ONE weakness in using gross domestic product (GDP) as a measure of the standard of living.

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Other parts of this question

  1. 4(a)(i)Define the term 'Monetary policy'.[2 marks]
  2. 4(a)(ii)Define the term 'Fiscal policy'.[2 marks]
  3. 4(b)Name ONE type of unemployment.[1 mark]
  4. 4(c)Distinguish between the 'national budget' and 'national debt'.[6 marks]

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