Gross Domestic Product was designed as a measure of economic activity, specifically a measure of national production. Despite this intent, GDP is widely interpreted as a measure of economic welfare or standard of living (when measured in per capita terms). What are the shortcomings of using GDP as a measure of economic welfare? What would you like to add to (or subtract from) GDP to make it a better reflection of how well people are doing in a nation? Don’t limit yourself to ideas from the module. Remember to cite your sources according to the APA Citation style.
Include your textbook/course material in your references., and then other academically reliable sources.
Avoid using any sources ending with “pedia” as reference.
Link to Textbook:https://openstax.org/details/books/principles-economics-2e
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