Which of the following statistic is usually regarded as the best single measure of a society's economic well-being?

Question

Quizplus · Accepted Answer

Gross domestic product (GDP) is usually regarded as the best single measure of a society's economic well-being as it represents the total value of goods and services produced within a country's borders in a given period of time. It takes into account consumption, investment, government spending, and net exports. While unemployment rate, inflation rate, and trade deficit are important indicators, they do not provide a comprehensive overview of a society's economic well-being.

Which of the Following Statistic Is Usually Regarded as the Best