GDP is the widely used measure to evaluate the state of the economy (in the U.S. and other nations). Some believe it is not a good measure of the quality of life. I am sending a couple of articles that address this in an email on Thursday afternoon. It will be titled IS GDP A GOOD MEASURE OF THE QUALITY OF LIFE?
What do you think is the best way to measure the standard of living for America (not for you but the macro measure for all of America)? What should be included? Put weights (that add up to 100%) on the things you believe that matter. Explain your reasoning. There are economic variables, social variables, and life variables to choose from. What matters in the quality of life? Maximum of 500 words (again you don’t need to do 500 but shouldn’t go higher).