Is GDP a good measure of a country's economic well being? I think so. To start, GDP is measured by the sum of a country's personal consumption expenditures, gross private domestic investment, government purchases, and net exports. This covers the majority, if not all, of the factors of our economy. That being said, is GDP a good measure of our economic well being? Of course! GDP basically IS our economy, so of course it would have a big part in our country's economic well being.