Study guides, Class notes & Summaries

Question Question Points 1. Many things that society values, such as good health, high-quality education, enjoyable recreational opportunities, and desirable moral attributes of the population, are not measured as part of the GDP. It follows that: a. GDP is not a useful measure of society's welfare. b. GDP is still a useful measure of society's welfare because providing these other attributes is the responsibility of government. c. GDP is still a useful measure of society's welfare because it me...

Question Question Points 1. Many things that society values, such as good health, high-quality education, enjoyable recreational opportunities, and desirable moral attributes of the population, are not measured as part of the GDP. It follows that: a. GDP is not a useful measure of society's welfare. b. GDP is still a useful measure of society's welfare because providing these other attributes is the responsibility of government. c. GDP is still a useful measure of society's welfare because it...