Consult the textbook and read these articles about GDP and other measures to answer these questions. What is GDP according to the official definition and what does it count? What is missing in this official definition? Do you think it should count the items that are missing? How would this change countries' measure of their wealth? What is the difference between GDP and GDP per capita? What does GDP per capita tell us that GDP does not? What are other measures of well-being and what do you think of them? Lastly, which ones do you think are the best measures of an economy and a society?

https://fredblog.stlouisfed.org/2017/09/is-gdp-a-good-measure-of-well-being/(Links to an external site.)Links to an external site.

https://www.cbsnews.com/news/why-gdp-fails-as-a-measure-of-well-being/(Links to an external site.)Links to an external site.

https://www.forbes.com/sites/timworstall/2014/06/05/the-problems-with-using-gpi-rather-than-gdp/#6bf2c64352a5(Links to an external site.)Links to an external site.

Alternatives to GDPLinks to an external site.

https://happyplanetindex.org/(Links to an external site.)Links to an external site.

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Gross Domestic Product GDP is the official measure of the total monetary value of all goods and services produced within a countrys borders during a s... View the full answer