In the spring of 2010, a large oil spill threatened the coasts of Louisiana and surrounding areas.
Question:
a. What happened to the usual measure of real GDP per capita in the area for this period?
b. What does this episode suggest about relying on real GDP per capita as a measure of the standard of living?
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Related Book For
Macroeconomics
ISBN: 9780132109994
1st Edition
Authors: Glenn Hubbard, Anthony Patrick O'Brien, Matthew P Rafferty
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