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Identify the problems of GDP as a measure of output and welfare. 7. List the spending components of GDP and give examples of each. 8.

Identify the problems of GDP as a measure of output and welfare.

7. List the spending components of GDP and give examples of each.

8. Select the component(s) of GDP impacted by a given market transaction.*

9. Identify the problems of using GDP as a measure of output and welfare.

10. Determine if GDP is overestimate a nation's progress or underestimating it.

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