Question

Gross Domestic Product does not give us a clear indication of economics welfare of a country. Defend or refute the given statement with vald reason.

Answer 1

Explanation:

Income Patterns: It is possible that even with the rise in the Real GDP, the welfare of the people might not increase. The increase in the GDP may be a result of the increase in the income of a few individuals. Hence, a rise in national income may lead to a false interpretation of social welfare.