Goods and services that are not sold in markets, such as food produced and consumed at home,

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Goods and services that are not sold in markets, such as food produced and consumed at home, are generally not included in GDP. Can you think of how this might cause the numbers in the second column of Table to be misleading in a comparison of the economic well-being of the United States and India?Explain.
Goods and services that are not sold in markets, such
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Principles of economics

ISBN: 978-0538453042

6th Edition

Authors: N. Gregory Mankiw

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