Identify the limitation of GDP relevant to each scenario. a. The U.S. Department of Commerce reports that

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Identify the limitation of GDP relevant to each scenario.

a. The U.S. Department of Commerce reports that a “dead zone” of low oxygen that can kill fish and marine life in the Gulf of Mexico has grown as large as the state of New Jersey. It is the result of agricultural and developed land runoff in the Mississippi River watershed.

b. The World Bank reports that in 2015 the income share held by the bottom 10% of the U.S. income distribution was 1.7%. The income share held by highest 10% of the U.S. income distribution was 30.6%.

c. Data from the Pew Research Center shows that one in five U.S. parents and caregivers stay at home.

d. U.S. GDP per person is around 7% higher than Netherlands GDP per person. However, American workers typically work about 26% more hours per year than Dutch workers.

e. Most internet searches (86.5%) occur via Google, Google Maps, or Google Images, all of which provide search results for free.

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Principles Of Economics

ISBN: 9781319330156,9781319419769

2nd Edition

Authors: Betsey Stevenson, Justin Wolfers

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