Question

question: which of the following statements is not always true? select the correct answer below. gdp has nothing to say about the level of inequality in society. a rise in gdp is representative of economic progress. gdp does not reflect all technology and products that are available. gdp accounts for production exchanged in the market. current objective explain the limitations of gdp for measuring a countrys standard of living.

Explanation:

GDP measures the market - value of all final goods and services produced within a country in a given period. It has several limitations. It doesn't account for non - market transactions, quality of life aspects, income inequality, and environmental degradation. A rise in GDP can be indicative of economic progress in terms of increased production and consumption. It does not reflect all technology and products available (e.g., free or non - market products). It also doesn't directly measure inequality but can be related to it. GDP accounts for production exchanged in the market. So, the statement that a rise in GDP is representative of economic progress is not always true as there are other factors to consider like distribution of income, environmental impact etc.

Answer:

A rise in GDP is representative of economic progress.