7. If prices rise, peoples income from selling goods increases. The growth of real GDP ignores this...

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7. If prices rise, people’s income from selling goods increases. The growth of real GDP ignores this gain, however. Why, then, do economists prefer real GDP as a measure of economic well-being?

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Principles Of Macroeconomics

ISBN: 9780324171891

3rd Edition

Authors: N. Gregory Mankiw

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Question Posted: Sep 27, 2024 07:01 AM

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7. If prices rise, peoples income from selling goods increases. The growth of real GDP ignores this gain, however. Why, then, do economists prefer real GDP as a measure of economic well-being?
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7. If prices rise, peoples income from selling goods increases. The growth of real GDP ignores this...

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Principles Of Macroeconomics

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