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Yes because it is able to measure the amount of growth an economy is pursuing and when an economy is growing it is improving.  Since GDP is defined as the sum of all goods and services produced in a country over time without overcounting, if the GDP is high many goods and services are being produced. Therefore, with more goods and services being produced this is stimulating the economy and is able to give an accurate depiction of the economy’s health.

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Using the statistics, it is fairly obvious that GDP is not a good indicator of economic and public health as there is no coordination between the GDP and happiness rates or unemployment within countries. In addition, there is little coordination between GDP per capita and happiness or unemployment rates, although as a whole, countries with high GDP per capita are unlikely to have low happiness or unemployment rates.

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Yes because it is able to measure the amount of growth an economy is pursuing and when an economy is growing it is improving.  Since GDP is defined as the sum of all goods and services produced in a country over time without overcounting, if the GDP is high many goods and services are being produced. Therefore, with more goods and services being produced this is stimulating the economy and is able to give an accurate depiction of the economy’s health.

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The overall health of the economy and quality of life in a country does not always have a direct or indirect correlation with the GDP. For example, in Norway the GDP is much lower than in the United States, however people are much better educated in Norway because their illiteracy rate is only 0.2% of adults versus 14% of adults in the US. This indirect correlation does not continue if we look at Ireland, where the GDP is lower than both the US and Norway, and the illiteracy rate is also much worse at 17.9% or adults.

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GDP is not a good representation of the prosperity of a country overall because it does not take into account non-monetary transactions. Although the U.S. had the highest GDP by far, it also had the highest poverty rate and the highest murder rate of the three countries. When considering the prosperity of a country it is necessary to take into account the prosperity of all of the citizens of the country, and not just the upper echelon of the citizens. The poverty rate is a good indicator of how many people are not living happily in a country, so it is reasonable to assume that the U.S. is not the happiest or most prosperous of the three countries. Therefore, GDP is not an accurate measure of the prosperity of the country because it doesn't represent the prosperity of the population as a whole.

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GDP does not reflect the health of an economy, because for example the unemployment rate is higher in France than Aruba even thought the GDP and the GDP per Capita are much higher. The USA has the best GDP, but the life expectancy rate is not as high compared to France. This shows how even though the GDP isn't that high, they still live very long.