Criticisms of gdp as a measure of economic activity.

Reference no: EM13677455

Let's consider GDP. Is it a good way to measure our economy? What does this number really tell us?
GDP has long been criticized as a measure for calculating the growth of an economy. Although it is not used, an alternative measuring approach known as the Genuine Progress Indicator (GPI) has been proposed in response to criticisms of the method currently used.

Please respond to all of the following prompts:

Identify three criticisms of GDP as a measure of economic activity. Do you agree with these criticisms? Why or why not?
How does GPI differ from GDP? List at least three distinct measurement differences.

•Which do you believe to be the better measuring device? Why?

Reference no: EM13677455

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