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?