The national income accounts measure productivity, spending, and income; but these accounts were not designed to measure economic welfare. Discuss aspects of economic welfare ignored in GDP. HINT: Do a “Google” search on the Genuine Progress Indicator and compare this with GDP in terms of measuring economic welfare.
The national income accounts measure productivity, spending, and income; but these accounts were notdesigned to measure economic welfare. Discuss aspects of economic welfare ignored in GDP. HINT:…
