Wheelan argues that although GDP is not the perfect measure of economic progress, we continue to use it to measure economic progress for all of the below reasons EXCEPT for this one: Group of answer choices Joys of art and leisure, sorrows of environmental destruction and stress, and spiritual satisfaction, are subjective measures of human well-being and difficult to quantify or measure. All else equal, it is better for a nation to produce more goods and services than fewer. Quality of life factors such as healthcare, leisure, protection of the the environment, and stress, are not important, and therefore there is no need to develop a broader, more inclusive, measure of well-being than the GDP. When GDP turns negative, the damage is real: jobs lost, businesses closed, productive capacity turned idle.
Wheelan argues that although GDP is not the perfect measure of economic progress, we continue to use it to measure economic progress for all of the below reasons EXCEPT for this one:
Group of answer choices
Joys of art and leisure, sorrows of environmental destruction and stress, and spiritual satisfaction, are subjective measures of human well-being and difficult to quantify or measure.
All else equal, it is better for a nation to produce more goods and services than fewer.
Quality of life factors such as healthcare, leisure, protection of the the environment, and stress, are not important, and therefore there is no need to develop a broader, more inclusive, measure of well-being than the GDP.
When GDP turns negative, the damage is real: jobs lost, businesses closed, productive capacity turned idle.
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