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Explain briefly whether each of the following would cause GDP to overstate or understate the degree of change in the broad standard of living. The
Explain briefly whether each of the following would cause GDP to overstate or understate the degree of change in the broad standard of living.
- The environment becomes dirtier.
- The crime rate declines.
- A greater variety of goods become available to consumers.
- Infant mortality declines.
**Please make sure that the explanation is paragraph format to ensure a thorough understanding of the topic**
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