Question

Write 2-3 paragraphs on the usefulness of the GDP then the subsequent topic of whether or not economic health equals happiness? Does the GPI make a difference?

Answer 1

Usefulness of GDP

gross domestic product knows as GDP. Gdp presents a sum of country production that consists of all goods and services produced or purchase by a country with in specific time.

GDP represent health of economic country. GDP give an complete picture of the economy state to that of a satellite in space that can survey the weather across an entire continent. GDP enables policymakers and central banks to judge whether the contracting or expanding, the state economy, or it needs a boost or restraint, and if a threat such as a recession or inflation looms on the horizon.

Yes economic health equal happiness , economic happiness is a study of relation between the economic issue and individual satisfaction such as employment and economic growth and w with the increase in gdp altomatically economic growth, employment, income level of country increase because GDP is value of all good and service produced in year his shows health of economic equal to happiness ecomic.

GPI (genuine progress indicater) means used to measure ecomic growth of countryGPI is alternative of gdp. GPI indicates everything gdp +other figure that represent negative affect such as cost of ozone depletion etc

Yes GPI makes difference because relationship between GDP and GPI mimics the gross profit and net profit relation of company. The gross profit +the costs incurred is net profit ,while the GPI is the GDP (value of all goods and services produced) minus the environmental and social costs. Accordingly, the GPI will be zero if all other factor constant financial costs of poverty and pollution is equal the financial gains in production of goods and services.