Name the Nobel Prize winning American economist whose report to the US Congress titled ldquo Nationa...........

General Studies (CHSL) Indian Economy

Name the Nobel Prize winning American economist whose report to the US Congress titled “National Income, 1929-35" paved the way for the calculation of Gross Domestic Product (GDP) as the ultimate measure of a country’s overall welfare.

Simon Kuznets

Kenneth Arrow

John Maynard Keynes

Paul Samuelson

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Explanation:

Simon Kuznets, an economist at the National Bureau of Economic Research, presents the original formulation of gross domestic product in his report to the U.S. Congress, “National Income, 1929-35.” His idea is to capture all economic production by individuals, companies, and the government in a single measure, which should rise in good times and fall in bad. GDP is born.