Introduction to Macroeconomics: Around theWorld Costa Rica?s GDP per capita is about $10,000 per year, orone-sixth that
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Introduction to Macroeconomics: Around theWorld
Costa Rica?s GDP per capita is about $10,000 per year, orone-sixth that of the United States. However, the SustainableDevelopment Solutions Network ranked Costa Rica higher than theUnited States in their 2018 World Happiness Report.This highlights some of the shortcomings of using GDP per capita asa benchmark for standard of living.
Some economists argue that GDP should be updated to includequality-of-life measures. Consider each of the following items, andclassify each as included or not included in the GDPmeasure.
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