Representative measure of economy status and well-being

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How does GDP fare as a measure of an economy's growth & development? Do you think that 'GDP' is, by itself, a comprehensive and representative measure of an economy's status and well-being? Does it present a complete picture of a country's growth and development? Why or why not? Does the government or any other responsible agency provide other indicators that may be used to measure a country's overall growth and development? What might they be, and what information do they give us? Please explain why that information is relevant in the context of assessing the well being and forecasting future growth prospects of a nation.

Reference no: EM131097422

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