GDP measures the total value of goods and services produced within a country in a given year. Real GDP (adjusted for inflation) fell in 2008 due to the recession but has since risen. National income is the total income earned from domestic production, while disposable income is how much people have left to spend after taxes; both fell in 2008 and have since recovered. However, GDP is not a perfect measure of societal well-being as it does not account for environmental damage or non-monetary aspects of life.