Professor Nordhaus light example in the Economist article "The trouble with GDP" highlights a major shortcoming of GDP as a measure of welfare. Which of the answers below best captures
the essence of his argument?
A• Pollution caused by candles isn't taken into account.
B• Quality improvements as a source of well-being are ignored.
CO GDP doesn't capture the soothing effect of candlelight. •
D. The marginal cost of light is zero, and by convention zero-priced goods and services are excluded from
GDP.