What are the limitations of the GDP in measuring total output and national welfare? What are the
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- What are the limitations of the GDP in measuring total output and national welfare? What are the impacts of the shortcomings of the GDP as a measure of the national product and national welfare?
- Discuss aspects of economic welfare ignored in GDP measurement. What products (goods and services) are excluded from the GDP computation?
- What factors might contribute to a low growth rates in a country? Why might growth rates of developed countries be lower than those of developing countries?
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