a) What are the fundamental limitations of GDP measures? Explain. b) What is GDP per capita? Can

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a) What are the fundamental limitations of GDP measures? Explain.

b) What is GDP per capita? Can it be used to compare different economies?

c) What are the main challenges in measuring price changes using the market basket approach?

Posted Date: May 09, 2024 02:49 AM

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a) What are the fundamental limitations of GDP measures? Explain. b) What is GDP per capita? Can

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Expert Answer:

a GDP though a popular metric has some key limitations Excludes nonmarket activities GDP only considers market transactions It misses valuable contributions like unpaid housework volunteering and leis... View the full answer

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