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Per capita GDP (GDP divided by the number of people) is often used when comparing nations as a measure of 'standard of living' or well
Per capita GDP (GDP divided by the number of people) is often used when comparing nations as a measure of 'standard of living' or well being.Is this a good way of making such international comparisons?What factors of well-being are missing from the GDP? Is there a point where the GDP could increase to such a high level that economic well-being could be compromised? If so, describe some of the opportunity costs associated with maximizing the GDP.
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