Gross Domestic Product (GDP)

 

Gross Domestic Product (GDP) is the broadest measure of output for an economy.  However, GDP does not perfectly measure well-being of a nation and its citizens' welfare.  Discuss what GDP is and what it measures?  Discuss what the shortcomings (limitations) of GDP as a measure of well-being and welfare of a nation are?

Your initial discussion posts must be submitted by midnight, Day 3 and then your responses to 2 of your classmates’ posts by have to be submitted by midnight, Day 7.  Again note that a minimum of 250 words for the initial discussion posts is required.