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Discuss whether GDP (gross domestic product) is a good measure of economic activity and well-being and which problems arise by comparing GDP across countries. Start
Discuss whether GDP (gross domestic product) is a good measure of economic activity and well-being and which problems arise by comparing GDP across countries. Start with a brief definition of the gross domestic product. Strengths and weaknesses of the GDP with respect to measuring of economic activity and well-being will be discussed in the following. Next, explain the difficulties which could occur by comparing the GDP of different countries. Finally, a conclusion should be given to identify the key findings.
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