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GDP and Standard of Living Explain why GDP is an effective measure of living standards. Discuss how quality-of-life measures may be determined and measured. Explain

GDP and Standard of Living

  1. Explain why GDP is an effective measure of living standards.
  2. Discuss how quality-of-life measures may be determined and measured.
  3. Explain why aspects of our quality of life in the United States may be difficult to compare with other countries around the world.

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