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Measurement Problems in Macro-Variables. The Macro-Variables you need to consider are GDP, Economic Growth, Unemployment, and Inflation. For each of these Macro-Variables, definethe variable and
Measurement Problems in Macro-Variables". The Macro-Variables you need to consider are GDP, Economic Growth, Unemployment, and Inflation. For each of these Macro-Variables, definethe variable and explain how it is measured. Then describe the problems of obtaining a meaningful measure of that Macro-Variable. Finally, describe how the government economists have tried to deal with measurement error in reporting statistics on each of the above Macro-Variables.
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