Purchase Solution

Genuine Progress Indicator (GPI) and a Replacement of GDP

Not what you're looking for?

Ask Custom Question

Is the state of the USA designed to replace the GDP with a primary measure of economic performance?

Purchase this Solution
Solution Summary

Gross domestic product (GDP) has a number of limitations in capturing real economic growth. Genuine Progress Indicator or GNI promises a more comprehensive and realistic measurement.

Solution Preview

Economists and policy makers around the world echoes that sentiment that the GDP does not capture the economic performance of a country.

Talberth (2010) said that a replacement of GDP as a measure of economic performance must have these characteristics,"(1) it should measure genuine economic welfare, not just economic activity, and (2) it should indicate the ...

Purchase this Solution
Free BrainMass Quizzes
Pricing Strategies

Discussion about various pricing techniques of profit-seeking firms.

Elementary Microeconomics

This quiz reviews the basic concept of supply and demand analysis.

Economics, Basic Concepts, Demand-Supply-Equilibrium

The quiz tests the basic concepts of demand, supply, and equilibrium in a free market.

Economic Issues and Concepts

This quiz provides a review of the basic microeconomic concepts. Students can test their understanding of major economic issues.

Basics of Economics

Quiz will help you to review some basics of microeconomics and macroeconomics which are often not understood.

View More Free Quizzes
Related BrainMass Solutions

  • The GDP is Not a Measure of Health.

    The Genuine Progress Indicator includes a way to subtract the effects of crime, illness, and pollution, from an overall measure of growth.

  • Pros and Cons of GDP as a Measure of Economic Health

    Others have proposed that the Genuine Progress Indicator, which include many of the positive things GDP doesn't, should be adopted instead. Best of luck and thank you for using BrainMass.

  • Economics in a Global Environment

    Others have proposed that the Genuine Progress Indicator, which include many of the positive things GDP doesn't, should be adopted instead. Many negative things, such as divorce and crime, serve to increase GDP.

  • absolute advantage and comparative advantage

    Others have proposed that the Genuine Progress Indicator, which include many of the positive things GDP doesn't, should be adopted instead. Best of luck and thank you for using BrainMass.

  • Methods of economic analysis

    Indeed, the terms 'GDP', 'growth', and 'progress' are often used interchangeably. However, it is not a perfect indicator. It measures only expenditures, regardless of their reasons.

  • Linear Regression

    At the 0.05 level of significance, is there evidence of a linear relationship between GMAT score and GPI? i. Set up a 95% confidence interval estimate for the average GPI of students with a GMAT score of 600. j.

  • How is Global Social Progress Being Measured Today

    Another key indicator of development progress that reasonably reflects actual progress, is the decrease in the number of individuals that are suffering from malnutrition around the world.

  • GDP Per Capita & Recessions

    Others have proposed that the Genuine Progress Indicator, which include many of the positive things GDP doesn't, should be adopted instead. Unfortunately, it is difficult to agree on the parameters of any new yardstick of overall well being.

  • GDP per Capita vs True Welfare

    If there are reasons to dispute it, why is it a nearly universally recognized goal? Are there better methods for measuring economic welfare? How would you measure it? GDP can be used as a rough indicator of national progress in most of the world.

View More Related Solutions