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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 is the primary way which economists measure standards of living?

To determine

To state: The way for measuring the standards of living of a nation

Explanation

The primary way in which economist measures standards of living is by calculating gross domestic product per capita. Gross domestic value measures the market value of all the services and goods that are produced within a country in a given period of time...

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