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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?

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?

Help me study for my Economics class. I’m stuck and don’t understand.

RESPOND TO THE FOLLOWING PROMPTS IN A POST WITH A MINIMUM OF 150 WORDS

  • 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?

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