Many things that society values, such as good health, high-quality education, enjoyable recreation opportunities, and desirable moral attributes of the population, are NOT measured as part of GDP. According to most economists, why is GDP a useful measure of society's well-being?
A) It has been measured for many years and changing this measure would create confusion.
B) Providing these other attributes is the responsibility of government.
C) It measures a nation's ability to produce the things that contribute to well-being.
D) These other values cannot actually be measured.

Question

Quizplus · Accepted Answer

GDP is a useful measure of society's well-being because it measures a nation's ability to produce the things that contribute to well-being. While there are other important factors to consider, such as good health and education, GDP provides insight into a country's economic growth and productivity.

Many Things That Society Values, Such as Good Health, High-Quality