Question

Is GDP a good measure of our economic well being? Should GDP take into account environmental...

Is GDP a good measure of our economic well being? Should GDP take into account environmental issues, distributional issues, and health and welfare issues? Why or why not?

Business   Economics   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

GDP should take into account all the issues narrated in the question

Environmental issues - if growth in GDP is due to over exploiting natural resources ,then it is not sustainable growth because healthy environment is essential for growth with social justice.

Distributional issues - If growth in GDP is making richer more richer then also it is not sustainable . For development growth in GDP should make poorer more powerful economically ,so that they can participate in growth process equally .

Health and welfare issues - Healthy people can contribute more effectively in growth process . If growth in GDP is done on the cost of health of people then it is not sustainable . For effective growth government should keep in mind welfare of the people .

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Is GDP a good measure of economic well being?
Is GDP a good measure of economic well being?
Real GDP is a good measure of our economic activities. It is also a good proxy...
Real GDP is a good measure of our economic activities. It is also a good proxy to measure our welfare. However, it is not a perfect measure. List and explain briefly at least two limitations of GDP as a measure of our economy and/or welfare.
Discus why GDP is not a good measure of economic well being and recommend what specific...
Discus why GDP is not a good measure of economic well being and recommend what specific alternative should be used instead.
8. Discuss why the Real GDP is a good measure of a countries economic well being...
8. Discuss why the Real GDP is a good measure of a countries economic well being and why it is a poor measure. a. (5 points) Why is the real GDP a good measure. b. (5 points) Why is the real GDP a poor measure.
GDP per capita is a good measure of economic well-being of a country's population. True or...
GDP per capita is a good measure of economic well-being of a country's population. True or False? Provide an explanation about why you believe that it is true or false.
Gross Domestic Product is often used as a measure of economic well-being. Do you think this...
Gross Domestic Product is often used as a measure of economic well-being. Do you think this is a good measure? Why or why not? What would you use as a measure instead or how would you revise the definition of GDP to make a better measure of well-being?
Gross Domestic Product is often used as a measure of economic well-being. Do you think this...
Gross Domestic Product is often used as a measure of economic well-being. Do you think this is a good measure? Why or why not? What would you use as a measure instead or how would you revise the definition of GDP to make a better measure of well-being? Answer with explanation and detail.
GDP is often used as a measure of well-being. Is it a reasonable measure of well-being?...
GDP is often used as a measure of well-being. Is it a reasonable measure of well-being? If so, why does Norway with its high standard of living have a relatively low GDP? Why do India and China, with their relatively low standards of living have some of the highest GDP in the world? must be at least 250 word count
Is GDP per capita a good measure of a country's standard of living? Is GDP a...
Is GDP per capita a good measure of a country's standard of living? Is GDP a good measure of a countries wellbeing? How should a country’s well being be measured? What are your suggestions to boost the long run economic growth and living standards in the US?
1. Real GDP per person is an imperfect measure of economic well-being:  Identify at least two important...
1. Real GDP per person is an imperfect measure of economic well-being:  Identify at least two important factors that affect people's well-being that are excluded from GDP. 2. List at least two ways that higher real GDP/person does imply greater economic well-being.
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT