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Business, 23.07.2019 00:10 amiramoonbeam

Gross domestic product was designed as a measure of economic activity, specifically a measure of national production. despite this intent, gdp is widely interpreted as a measure of economic welfare or standard of living (when measured in per capita terms). what are the shortcomings of using gdp as a measure of economic welfare? what would you like to add to (or subtract from) gdp to make it a better reflection of how well people are doing in a nation?

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