Question

GDP is an ideal Index for welfare." Comment?​

Answer 1

Answer:

Often GDP (real GDP) is considered as an index of welfare of the people. Welfare means sense of material well-being among the people. ... When GDP (or GNP) rises, it shows increase in flow of goods & services. Greater availability of goods and services implies higher standard of living which increases economic welfare.

Explanation:

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Answer 2

Answer:

Gross domestic product (GDP) is the total monetary or market value of all the finished goods and services produced within a country's borders in a specific time period.

Explanation: