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Economics Final Individual Assignment Questions and Answers
Answer all parts of the question.
- Why is GDP an imperfect measure of the wealth of a country?
- Outline one or more alternative measures that could be used to better represent the wealth of a country?
- In your country, how were GDP and the alternative measure(s) you discuss in part 2 of the question impacted by the 2008 crisis?
- In your country, when did these measures of national wealth (GDP included) return to their pre-crisis levels (or near pre-crisis levels)? Discuss the reasons why the return to pre-crisis levels took the time it did in your country.