Economics 11e by Begg David & Vernasca Gianluigi & Fischer Stanley & Dornbusch Rudiger

Author:Begg, David & Vernasca, Gianluigi & Fischer, Stanley & Dornbusch, Rudiger [Begg, David]
Language: eng
Format: epub
Publisher: McGraw Hill Higher Education
Published: 2014-01-09T17:00:00+00:00

You are head of the Leisure Commission that has to recommend to the government how to include the value of leisure in GDP. How do you come up with an estimate?

Essay question‘Economists are preoccupied with what they can measure. GDP is so misleading an indicator of welfare that it is almost pointless to gather statistics about it, either for international comparison across countries or to assess how well particular governments are doing.’ How useful is GDP? Could we easily have a better indicator?

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