Answered: b. Elaborate four reasons with examples…

b. Elaborate four reasons with examples that why GDP is still considered the most important indicator of well-being of people of a country.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter19: The Macroeconomic Perspective

Section: Chapter Questions

Problem 19RQ: List some of the reasons why economists should not consider GDP an effective measure of the standard...

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b. Elaborate four reasons with examples that why GDP is still
considered the most important indicator of well-being of
people of a country.

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