Question

Because different nations have vastly different numbers of people living in them, Gross Domestic Product (GDP) is a very poor way to compare the economic well-being of people in different countries. What economic statistic is used by economists in its place? A. GNP B. per capita GDP C. wealth total D. life expectancy.

Answer 1

I think the correct answer from the choices listed above is option A. Gross National Product or GNP is used by economists in place with GDP. Gross National Product is an expression used to measure economic growth and wealth. It includes the value of all goods and services in a given period of time.