Asked by Yousef Abualhawa on Jul 04, 2024
Verified
Kendall, an economics professor at the University of Florida, believes that a person who delays entering the workforce in favor of getting additional education won't be directly boosting his or her country's gross domestic product (GDP) , but he or she will be building the foundation for a better life in the future. Which of the following statements supports her beliefs?
A) A country's GDP ranks countries into tiers of human development.
B) A country's GDP fails to determine the value of finished goods and services produced within its borders.
C) A country's GDP does not measure the well-being of its citizens.
D) A country's GDP tells us who is benefiting from the country's production.
Gross Domestic Product
The total value of all goods and services produced within a country's borders in a specific time period, used as a broad measure of economic activity.
Additional Education
Refers to further formal or informal learning undertaken after completing a level of education, to enhance skills or gain new knowledge.
Workforce
The pool of individuals in a country or company eligible for and engaged in employment, including both employees and those seeking employment.
- Understand the impact of education and workforce participation on a country's GDP.
Verified Answer
Learning Objectives
- Understand the impact of education and workforce participation on a country's GDP.
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