+1-415-670-9189
info@expertsmind.com
Official statisticians broadly accept gdp
Course:- Public Economics
Reference No.:- EM13961206




Assignment Help
Expertsmind Rated 4.9 / 5 based on 47215 reviews.
Review Site
Assignment Help >> Public Economics

Finding ways to improve humanity's living standards is the point of economics. Having a good measure of living standards, you may think, is therefore pretty fundamental to the discipline. For decades economists have turned to gross domestic product (GDP) when they want an estimate of how well off people are. By how much are Americans better off than Indians, or than their parents' generation? Chances are the answer will start with GDP.

GDP is really a measure of an economy's output, valued at market prices (to the extent that you have them). As societies produce more, and therefore earn more, their material well-being rises. So it is no surprise that so many economists and official statisticians broadly accept GDP as a measure of living standards.

Do you think GDP is the best measure of living standard? Why? Why not?




Put your comment
 
Minimize


Ask Question & Get Answers from Experts
Browse some more (Public Economics) Materials
Please answer the following problems legibly on a separate piece of paper. List any other members of the class you worked with on this assignment. You will not be penalized
At this point in the course, you are now familiar with the different options a business owner has in determining the form of business to select. From the e-Activity, determi
What elements of tradition and command do you think are indispensable in a modern post industrial (services driven) society such as ours? Do you think modern society could e
HPM 522, 1. Consider variables: Pr_Prob and Pr SIDE.   Explain why a relatively high value for the former and a relatively low value for the latter are the input values for
Calculate the cost effectiveness ratio (CER) for each drug and list the drug that could be reimbursed by the insurance plan, and the threshold value of your reimbursement deci
How public health expenditures may or may not correlate with desired public health outcomes. Compare the differences in public health expenditures between the United States
How does the speaker's nonverbal communication enhance or detract from their verbal delivery? (Describe at least three examples of how the speaker's nonverbals match or)
Readings: Please read the PS 101 Introduction document (below) and chapters 1 in the course text (Lowi). In addition, there is a short video clip on the US government ("The