Explain why each of the following should be taken into account when GDP data are used to compare the „level of well-being‟ in different countries. a. Population levels. b. The distribution of income. c. The amount of production that takes place outside markets
Explain why each of the following should be taken into account when GDP data are used to compare the „level of well-being‟ in different countries. a. Population levels. b. The distribution of income. c. The amount of production that takes place outside markets
Chapter5: National Income Accounting
Section: Chapter Questions
Problem 14E
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Explain why each of the following should be taken into account when GDP data are used to compare the „level of well-being‟ in different countries.
a. Population levels.
b. The distribution of income.
c. The amount of production that takes place outside markets. d. The length of the average work week.
e. The level of environmental pollution.
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