But it is not a perfect measure of well-being. For example, GDP excludes the value of leisure and the value of a clean environment. This discussion examines the usefulness and limits of measures of GDP. You might have difficulty accepting the use of GDP as a proxy for well-being. We can measure the well-being of a country by health, education, access for healthy food rather than money income. Per capita GDP does not directly measure well-being but it is highly correlated with direct measures.
Please read the following news article:
GDP An Imperfect Measure of Progress click here!
Please state and explain one reason why GDP is not a perfect measure of economic well-being based on the article.
Please find the recent nominal GDP of Switzerland and China or India (you can Google). If GDP is a good proxy of well-being, why is Switzerland’s GDP so much lower than India’s GDP or China’s GDP? When you answer this question keep in mind the population of China or India is much higher than in Switzerland.
Please define GDP per capita and search for recent GDP per capita for both Switzerland and China. Do you think GDP per capita is a better measure than GDP itself? Why or why not?
Respond to two of your peers who selected a different reason than you did.
State another reason why GDP is not a perfect measure of economic well-being.
Find the GDP per capita of a developing country and compare this country’s GDP with your peers’ choice of countries.
Make your initial post by Thursday 11:00 pm of this week and comment on at least two of your classmates’ posts by Sunday 11:00 pm.
Post your response to the discussion and then read your classmates’ posts. Post a response to at least two of your classmates’ posts. The initial post should be no less than 150 words and no more than 300 words. Your reply post should be no less than 75 words.
Discussions need to be professional. Please make proper use of capitalization and punctuation and make sure that there are no misspellings, incomplete sentences, or other grammatical errors.
The basic criterion for a discussion post to be considered effective is that your message is original and intelligible. You must communicate concisely and clearly.
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