Question
The appeal of GDP is that it offers, or seems to, a summary statistic of how well an economy is doing. In what sense does
The appeal of GDP is that it offers, or seems to, a summary statistic of how well an economy is doing.” In what sense does GDP offer a summary statistic of how well an economy is doing? Explain. Why qualify the statement about GP as a summary statistic by including the phrase “or seems to”? Explain.
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Macroeconomics
Authors: Charles I. Jones
3rd edition
978-0393123944, 393123944, 393923908, 978-0393923902
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