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this article, we'll take a look at some of these factors that are not included in the calculation.Although the US' gross domestic product per capita
this article, we'll take a look at some of these factors that are not included in the calculation.Although the US' gross domestic product per capita is larger than that of Germany, it does not prove that the country's standard of living is higher. It is also true that the average worker in the US works more hours than the average worker in Germany. However, the calculation of GDP does not take into account the extra weeks of vacation that German workers take.It does not take into account the various factors that contribute to a person's health and well-being, such as education, healthcare, and environmental protection. Also, it does not take into consideration the cost of buying pollution-fighting equipment. Although GDP includes spending on healthcare, it does not take into account the decline or rise in infant mortality or life expectancy. Similarly, it does not take into account the education level of the population. Although GDP covers the production of goods and services that are exchanged in the market, it does not cover the production of those that are not. For instance, if you hire someone to clean your house and perform other household tasks, then these activities are not included in the calculation.Although GDP is a great tool for measuring a person's standard of living, it does not take into account various factors that contribute to happiness. In this article, we'll take a look at some of these factors that are not included in the calculation.Although the US' gross domestic product per capita is larger than that of Germany, it does not prove that the country's standard of living is higher. It is also true that the average worker in the US works more hours than the average worker in Germany. However, the calculation of GDP does not take into account the extra weeks of vacation that German workers take.It does not take into account the various factors that contribute to a person's health and well-being, such as education, healthcare, and environmental protection. Also, it does not take into consideration the cost of buying pollution-fighting equipment. Although GDP includes spending on healthcare, it does not take into account the decline or rise in infant mortality or life expectancy. Similarly, it does not take into account the education level of the population. Although GDP covers the production of goods and services that are exchanged in the market, it does not cover the production of those that are not. For instance
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