Law Homework Help. UT Is GDP Still Accurate in The Digital Age Discussion
I’m trying to learn for my Law class and I’m stuck. Can you help?
What the GDP measures, if anything, has become quite the issue in the digital age. Consider this data:
In 2012, U.S. Real GDP was $15,345.63 billion and Real Per Capita GDP was $48,842 billion.
Five years later, at the end of 2017, U.S. Real GDP was $17,096.18 billion and Real Per Capita GDP was $52,446 billion. (All data was extracted May 20, 2018, from FRED https://fred.stlouisfed.org/.)
Read this blog, GDP: Falling Short, to help you answer this week’s discussion questions.
Reply to these questions in your response:
Considering the data above, did the U.S. make progress? Explain your answer.
- Given what you know now about economics, should the measure of GDP be changed? Why or why not?
