What changes would you recommend ?and why

Assignment Help Other Subject
Reference no: EM132789939

Question: GDP is the sum of all income earned in a country during a year.?Alternatively,?it can be thought of as the value of all production in an economy during a year.?But do income and production measure happiness? The way we measure GDP can both overstate and understate people's happiness and well-being.?It understates economic activity and well-being when it doesn't take into account production that is not exchanged in a market?(grandma providing free baby-sitting)? and leisure time.?It overstates well-being when two otherwise identical activities are measured the same even though one produces more pollution.

Reply to these questions to begin your discussion:

Should we continue to measure GDP as we do now??After all, the current way of measurement has been used over time, so we can make historical comparisons. But are there problems with GDP that should be fixed? If you don't think GDP should be changed,?explain your reasoning.?If you think it should be changed,? what changes would you recommend,?and why?

Reference no: EM132789939

Questions Cloud

Draw a graph of the marginal cost curve : Let's pretend the market for Soda is for all intents and purposes a monopoly in our fictional country the Republic of Stark. Stark soda has an overwhelming mark
What is university h new profit at the equilibrium : Imagine a university H that is the monopoly in the market for art degrees, with cost function C(Q) = 25Q^2 + 360. Imagine the inverse demand function
What is the balance of accounts receivable at december : What is the balance of Accounts Receivable at December 31, 2017? Customer accounts written off as uncollectible during 2017 $8,000
Calculate consumer surplus and producer surplus : Suppose a price floor is set at P = 5 and the government buys the surplus. Calculate the new consumer surplus and producer surplus.
What changes would you recommend ?and why : GDP is the sum of all income earned in a country during a year.?Alternatively,?it can be thought of as the value of all production in an economy during a year.
What effect will write-off have on quaint : What effect will this write-off have on Quaint's 2017 net income and balance sheet totals assuming the allowance method is used to account for bad debts?
Explain what motivates you to make the choices : To what extent do you personally make purchasing choices based on a company's social responsibility, brand, or reputation? Explain what motivates you to make.
How to determine the corporation taxable income : The firm sold stock that had been owned for 2 years for $40,000; the original cost of the stock was $30,000. How to determine the corporation's taxable income
Propose one specific market access solution on the offense : Represent an actual or hypothetical service company looking to enter a foreign market, or compete in its domestic market against international competitors.

Reviews

Write a Review

Other Subject Questions & Answers

  Decompression of hot solid rock

Decompression of hot solid rock cannot induce melting if its temperature is already close to the solidus.

  Nutrition involves studying factors that influence eating

Nutrition is an ancient science that dates back to the 14th century. Nutrition involves studying the factors that influence eating patterns.

  Scanlon foundations - mapping social cohesion

These findings remind us that racism occurs in everyday places, to everyday people. Casual racism appears to be the new face of prejudice and discrimination.

  Calculate the campus death rate for influenza

An urban university catering to gifted and talented (GT) epidemiology students has a population of 6,783 students (3,431 males and 3,352 females). After the Thanksgiving break, many students reported to the Health Center (HC) for various illnesses.

  Identify the social construction

Since social constructionism is best understood through examples, think of your own example of something about our social world that is socially constructed.

  Explain how the factor you selected might impact diagnosis

Select one of the following factors: genetics, ethnicity, age, or behavior. Think about how the factor you selected might impact the diagnosis of and treatment for the reproductive disorders.

  Define primary- secondary and tertiary prevention

Every disease that is caused in a state where mass of people are affected requires a wide range of interrelated program, action, and activities that will see to it that the situation is under control. This calls for prevention measures to be facil..

  What is the internal rate of return or irr for the project

Calexico Hospital plans to purchase a new MRI machine for 1.8M. What is the internal rate of return or IRR for the project?

  Discuss the pros and cons of addressing chronic diseases

Chronic health issues continue to affect individuals globally, especially when combined with poverty and government is unable to support it citizens.

  Discuss various conflict-avoidance strategies

Discuss various conflict-avoidance strategies being followed by an organization, citing example from the organization you are working in or any organization you are familiar with

  How would the implementation of community policing differ

How would the implementation of community policing differ in the following communities? This urban community has a population of nearly 100,000 people.

  Explain how does marxist analysis help in understanding a

identify the following write only one sentence for each to define it properly1.queer theory 2.marxist

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd