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Answer to Question #138049 in Macroeconomics for Mahfuz
Question #138049
Why is GDP not a good measure of human well-being? As an economist, what are the other measures you might recommend to appraise the economy's health?
Expert's answer
Because it excludes the value of almost all activity that takes place outside markets. In particular, GDP omits the value of goods and services produced at home.The best measure of human well-being is population's average height.
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