Question

Evaluate the relationship between gdp and economic welfare

Answer 1

Answer:

Explanation: GDP is the better indicator of welfare. GDP indicate real change in output if GDP increase it mean more goods are available for citizen to consume if GDP decrease it mean less goods are available for citizen to consume it mean welfare is decrease GDP estimate the the real change in price so it is considered as Better Indicator of welfare .

GDPhas to know the development of any country the country which have highe GDP its means that country have more wealth and it mean also show more product are producing in that country if sufficient food is producing in that country .