1)Does an increase in Gross Domestic Product mean that the nation\'s citizens ar
ID: 1240940 • Letter: 1
Question
1)Does an increase in Gross Domestic Product mean that the nation's citizens are happier with greater well-being?2)What if your country was taken over by Dictator Diana, who requires everyone to work 80 hours per week? GDP would almost certainly increase. Would you all be happier?
3)What if you lived on a tropical island with such abundant fish and game, fruits and berries, natural shelters like caves, and firewood that the citizens did not have to work and GDP was very low? Would the citizens' sense of well-being be lower than that of the people ruled by Dictator Diana?
Explanation / Answer
1.) Not necessarily, in fact, even though GDP may go up, if the number of people in the nation rose by a greater percentage than the GDP did, the GDP per capita would actually go down. All that GDP measures is the amount of output for the nation, not well being or happiness. 2.) GDP would rise, but I would seriously doubt anybody would be happier with an 80 hour work week 3.) We would not know for sure, because while it is true people would have to work less, there are some trade offs to being on a tropical island, such as lack of electricity and hospitals. I for one would be equally unhappy in 3 as in 2.
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