Question

GDP is a useful measure for tracking changes in the market value of overall economic activity over​ time, but it is not a measure of the​ well-being of a​ nation's residents because it fails to account for nonmarket​ transactions, the amount and quality of leisure​ time, environmental or safety​ issues, labor market​ discrimination, and other factors that influence general welfare.

True / False.

Answer 1

True.

Step-by-step explanation:

GDP is the sum of all final goods and services produced by a country, state, or city, usually within a year. In other words, we can say that GDP is an indicator for measuring the country's economic activity. Economists often say that GDP is a good indicator of growth but not of development, which should include other data such as income distribution, investment in education, among other things; With this we can state that GDP does not serve as a way of measuring the well-being of a nation's residents.