The participation of women in the U.S. labor force has risen dramatically since 1970.
a. How do you think this rise affected GDP?
b. Now imagine a measure of well-being that includes time spent working in the home and taking leisure. How would the change in this measure of well being compare to the change in GDP?
c. Can you think of other aspects of well-being that are associated with the rise in women’s labor-force participation?
Would it be practical to construct a measure of well-being that includes these aspects?