a) Class, GDP is a measure of our economic well-being, though this measure omits some things...

  

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a) Class, GDP is a measure of our economic well-being, though this measure omits some things that are important in describing how well-off we are. Provide 3 specific examples of things that your think are important to you or to society, but which are omitted from the GDP measure. b) If you were given the job of developing a new indicator that would measure the overall quality of life for countries, what factors would you take into account? c) Suppose you were given the job of measuring the value of black market economic activity. How would you go about accomplishing the task? a) Class, GDP is a measure of our economic well-being, though this measure omits some things that are important in describing how well-off we are. Provide 3 specific examples of things that your think are important to you or to society, but which are omitted from the GDP measure. b) If you were given the job of developing a new indicator that would measure the overall quality of life for countries, what factors would you take into account? c) Suppose you were given the job of measuring the value of black market economic activity. How would you go about accomplishing the task?

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a examples iQuality of life the standard of health happiness security and material comfort of an individual a group of people or a nation iiNonmarket transactions economic activity that takes place in ... View the full answer