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Macroeconomics 11th Edition by Michael Parkin
Edition 11ISBN: 9780133423884Macroeconomics 11th Edition by Michael Parkin
Edition 11ISBN: 9780133423884 Exercise 2
The Uses and Limitations of Real GDP
The United Nations' Human Development Index (HDI) is based on real GDP per person, life expectancy at birth, and indicators of the quality and quantity of education.
a. Explain why the HDI might be better than real GDP as a measure of economic welfare.
b. Which items in the HDI are part of real GDP and which items are not in real GDP
c. Do you think the HDI should be expanded to include items such as pollution, resource depletion, and political freedomExplain.
d. What other items should be included in a comprehensive measure on economic welfare
The United Nations' Human Development Index (HDI) is based on real GDP per person, life expectancy at birth, and indicators of the quality and quantity of education.
a. Explain why the HDI might be better than real GDP as a measure of economic welfare.
b. Which items in the HDI are part of real GDP and which items are not in real GDP
c. Do you think the HDI should be expanded to include items such as pollution, resource depletion, and political freedomExplain.
d. What other items should be included in a comprehensive measure on economic welfare
Explanation
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GDP is the gross domestic product. The G...
Macroeconomics 11th Edition by Michael Parkin
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