Think of a good or service youve purchased in the last month. Explain how your purchase changed

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Think of a good or service you’ve purchased in the last month. Explain how your purchase changed GDP by using each of the three ways to measure GDP: adding up every dollar spent, adding up every dollar’s worth of output produced by detailing the value added at every stage of production, and adding up every dollar of income earned. How should GDP differ based on the way it is measured?

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Principles Of Economics

ISBN: 9781319330156,9781319419769

2nd Edition

Authors: Betsey Stevenson, Justin Wolfers

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