MEASURES OF ECONOMIC PERFORMANCE
A question to answer
This week we are learning about economic measures. Though they tell us a lot, there is plenty they do not, or can not, tell us. Using at least one economic measure as an example, explain its limitations and describe additional information or measures that would go well with the particular measure and provide additional illumination
Answer previewEconomic measures are used to keep track of economic performance in different nations. These measures assess the economy of a country in different dimensions and provide information that helps governments in different countries to act accordingly. However, these measures have shortcomings because they, in one way or another, exclude some key information concerning economic performance. An example of an economic measure is real GDP, which involves the calculation…
(350 words)