Suppose a college student is texting while driving and gets into an accident that causes $2,000 worth of damage to her car. When the student repairs her car as a result of this accident, GDP will: be unchanged because the car has less value now, but car repairs are a service produced by the economy. fall by $2,000 since the car has less value now. rise by $2,000 since car repairs are a service produced by the economy. rise by the amount that the car originally cost minus the $2,000. This example suggests that using GDP as a measure of well-being is: inadequate because the original value of the car is not considered in this example. standard and acceptable, even though the car repair, and not the car destruction, is included in the basic measure of GDP. imperfect because the car repair, and not the car destruction, is included in the basic measure of GDP. standard and acceptable, even though the original value of the car is not considered in this example.
Answers: 3
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Suppose a college student is texting while driving and gets into an accident that causes $2,000 wort...
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