GDP Measure
The GDP is not a sufficient gauge of how the nation's economy is doing. The GDP is a sum of the monetary value of what has been produced in the nation in the past year. The formula for calculating the GDP ignores a large percentage of the activities that transpire in the nation's economy. The formula ignores several things as work done in the home and activities in the underground economy. In general, the GDP …
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…need top be. When a disaster strikes a community, the costs of rebuilding are counted in the GDP. They should be counted because it causes work for some but it also is hurting others.
In summation, GDP is not a competent ranking of the nation's economic standings. In the determine of GDP, there are too many items left out of the formula and one too many to give a accurate description of the economy's well-being.
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