Respond to the following prompts in a post with a minimum of 150 words, then comment on at least TWO other posts.
- Gross Domestic Product was designed as a measure of economic activity, specifically a measure of national production. Despite this intent, GDP is widely interpreted as a measure of economic welfare or standard of living (when measured in per capita terms). What are the shortcomings of using GDP as a measure of economic welfare? What would you like to add to (or subtract from) GDP to make it a better reflection of how well people are doing in a nation? Don’t limit yourself to ideas from the module.
Contributors and Attributions
CC licensed content, Original
- Discussion: GDP and Economic Growth. Authored by: Steven Greenlaw and Lumen Learning. License: CC BY: Attribution