Explain briefly whether each of the following would cause GDP to overstate or understate the degree of
Question:
Explain briefly whether each of the following would cause GDP to overstate or understate the degree of change in the broad standard of living.
a. The environment becomes dirtier
b. The crime rate declines
c. A greater variety of goods become available to consumers
d. Infant mortality declines
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a A dirtier environment would reduce the broad standard of living ...View the full answer
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