Economics help, can someone please help?

P

Patti

New member
It is well recognized that Gross Domestic Product is not an accurate measure of the standard of living or societal welfare. Describe some activities that are not included in GDP measure and how these omissions might impact the measure of economic well-being.
 
inflation/deflation are accounted for in Real GDP (which is typically the kind of GDP that is reported)

the answer to your Q is bullets 2-5 from here:
http://en.wikipedia.org/wiki/GDP#Limitations_of_GDP_to_judge_the_health_of_an_economy
 
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