Measures Of Economic Health

Question 1

GDP

Answer 1

Value Of All Goods And Services Produced Within That Country

• Provides info about the size of an economy and rate of growth
• Easy to compare
• Considers Production Levels
• Does not consider population size
• Does not consider levels of income inequality

Question 2

GNI

Answer 2

GDP + Inflows/Outflows Of Income

• Easy To Compare
• Considers flow of incomes
• Does not consider population
• Does not consider inequality

Question 3

HDI

Answer 3

Measures a countries education, life expectancy and standard of living

• Easy To Compare
• Considers Standard Of Living
• Is not based around size of economy
• Does not consider inequality