explain why you either agree or disagree with the biggest weakness of GDP that they identified. GDP is calculated by exp

[answerhappygod]

explain why you either agree or disagree with the
biggest weakness of GDP that they identified.
GDP is calculated by expenditures and income – that is,
expenditures are the sum of money spent purchasing goods and
services, and income is the sum of earnings and production.
Consumption can be calculated by households purchasing a dozen eggs
at the grocery store. Investment would be considered purchasing
real estate. Government procurement of COVID-19 testing kits would
be considered an expenditure in calculating GDP. Net exports would
be corn and wheat sold & supplied to other countries. One
good/service not included in Real GDP calculations is cash tips and
cash wages – this can be exemplified by small-town diners employing
staff with cash payment in order to maintain lower business costs
or babysitting children for a neighbor. These cash transactions are
not tracked with any kind of paper trail and thus cannot be counted
in a country’s GDP. The largest weakness of GDP would be income
inequality. When the proverbial lion’s share of income is earned by
a functional minority of households, this is left unaccounted for
in GDP calculations. This will result in households spending less
on goods and services, not just in the short-term but long-term
which can have far-reaching effects. GDP calculations do not
account for income distribution and offer no solutions to income
inequality.