Question

briefly describe the genuine progress index. is it a better indicator of economic health than GDP/GNP? support your opinion.

Answer 1

The genuine progress index is an indicator that is usually used as an alternative for GDP measurement where GDP measurement doesn't take into account it regard in the negative effects in the economy such as crime rates polution, the negative externalities etc. However, genuine progress indicator is an indicator that takes into account all the negative effects as a result of which those can be deleted against the GDP and the actual progress can be serious and this is the reason why it is better than GDP because it can show the sustainable growth against various negative factors