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I see how the "perceived worth" if GDP is designed to be a measure of real economic variables e.g. tons of steel. Growth that isn't growth which isn't attributa
by tpeo 11y ago
I see how the "perceived worth" if GDP is designed to be a measure of real economic variables e.g. tons of steel. Growth that isn't growth which isn't attributable to increases in quantity produced is just inflation as measured by the GDP deflator.
- tormeh 11y agoYou measure steel in tons of a given quality. GDP is not for measuring manufacturing output. Services do add to GDP despite needing no new resources per se.