Does GDP accuratley reflect our nation's productivity?

Answer 1

No - GDP is not a measurement of PRODUCTIVITY. It's a measurement of PRODUCTION. Two different things.

Answer 2

productivity is output(GDP) per worker or per capital investment and per worker.
GDP only measures market activity and is an estimate. The change in GDP keeps track shifts in the economy, so if it is measure in a consistent manor it is a good indicator of how things are going despite it flaws.

Answer 3

the straight answer is a short "NO". since you mentioned "accurate" nothing is accurate in gross domestic product (GDP) since not all activities are included (household chores done by men/women and not accounted for -- since there is no direct pay -- and hopefully no tax) it is pretty hard to give you a precise answer --since I also question on what is exactly productivity. You have to read and study more than one economics book on the subject to pass a judgment let alone a precise, accurate answer. Conclusion-- the answer to your question is again "Niet". but we are better off than the accounts in Russia. I rest my case, how about you?

Answer 4

there are a number of stuff GDP fails to account for: Depreciation of capital Environmental injury Technological progression Ommitted events in the marketplace which won't be able to be measured, i.e. the hard paintings and threat fee of housewives, and additionally underground transactions be conscious that depreciation of capital and technological progression are key to long-run financial progression, and this could serve by way of fact the extreme project for economists in failing to forecast improve in the financial equipment.