GDP Assignment - Time Magazine article

Is GDP an Obsolete Measure of Progress?    Read this article online then answer the questions below.  Submit your answers on paper or electronically. 

1. When was GDP developed?  What was its purpose?
2. What is the criticism that the author and other economists are making of GDP as a  measure of progress?
3. Why is GDP still used so widely?
4. Analyze 3 other indicators that could be used to measure a country’s progress.  Use an organizer similar to below.  You may need to research some information on the internet to complete it.

Name of indicator and what it stands for	Who has developed it?	What does it include?	Canada’s ranking
HDI
GPI
HPI

5.   Name 2 things someone in your family did this week that contributed (directly or indirectly) to GDP.

6.  Name 2 things someone in your family did this week that is of value but would not be counted in the GDP.

 

Links to Economic Indicators

GDP per capita (PPP)

UN Human Development Index

Nominal GDP by country

GPI

HPI


Link to GDP video