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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

What does GDP not tell us about the economy?

To determine

The factors about the economy that are not covered by GDP are to be determined.

Explanation

GDP is a broad measure of economy activity and wellbeing. Although, it does not measure the following aspects:

  1. Standard of living of people
  2. It doesn’t indicate health of economy in terms of job and income...

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