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Chapter 19: Q. 27 (page 471)

How might you measure a “green” GDP?

Short Answer

Expert verified

GDP measured by taking into account the environmental harm.

Step by step solution

01

Step1. Introduction

GDP or the Gross Domestic Product refers to the total goods and services produced in an economy, i.e. the total economic activity of a country.

02

Step2. Explanation

Green GDP is the GDP value which also takes into account all the environmental harms the production process causes to the nature, which can be pollution, depletion in natural resources, etc. It is difficult to quantify the cost of environmental harm. A simple way by which green GDP is measured is by deducting the costs incurred to cure/ limit the environmental harms.

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Most popular questions from this chapter

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