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All final goods and service that make up GDP can be expressed in the form
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- An article in the Economist states that "the appeal of GDP is that it offers, or seems to, a summary statistic of how well an economy is doing."Source: "The Euro-Area Economy: Speeding Up," Economist, May 6, 2017.In what sense does GDP offer a summary statistic of how well an economy is doing?A.GDP can measure happiness among citizens—that is, the more goods an economy produces, the happier its people are—thus indicating well-being.B.Since GDP accounts for crime, pollution, and other social problems, it can be used as a rough measure of well-being.C.Since GDP measures how much an economy produces during a period of time, it may also indicate well-being.D.GDP is able to provide a summary of the goods and services consumed by a typical person, thus indicating well-being.