Critical appraisal of Gross Domestic Product (GDP) as a measure of national economic well being?


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Answers:
GDP, GNP are past measures. What else to use? Balance of trade doesn't get you anywhere. The Dow (or any national stock index) should be an index of future expectations. What do they say? It predicted 10 of the last 4 recessions. I am afraid I can't be too critical of GNP or GDP.

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