Question

is gdp a correct index of welfare? yes or no explain​

Answer 1

Answer:

YES

Explanation:

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.

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Answer 2

Answer:

often 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 and services. great availability of goods and services implies higher standard of living which increases economic welfare..