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Describe the limitations of using the GDP as a measure of living standards. Analyze the many methods used by economists to calculate GDP (GDP). What

Describe the limitations of using the GDP as a measure of living standards. Analyze the many methods used by economists to calculate GDP (GDP). What are the drawbacks of calculating economic welfare using the GDP? What could be added to (or taken away from) the GDP to better reflect how well people are doing in a country?

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