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 3 to be misleading in a comparison of the economic well-being of the United States and India? Explain.
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In countries like India people produce and con...View the full answer
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Jonas Araujo
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