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- List five limitations of GDP as a measurement of social welfare.If a country decides to have a UBI (Universal Basic Income) policy, what are some ways using which the government can generate money and resources to pay for UBI?Compare and contrast the HDI fi gures for economically more developed countries and economically less developed countries
- Explain the following identity:C + G + I + NX ≡ Y ≡ YD + (TA − TR) ≡ C + S + (TA − TR)How can the above identity be used to measure GNP/GNI of a country?Question 1. When there is investment made in the form of education, training and medical care, the population becomesState any two limitations of per capita GDP as an index of economic welfare