What does the level of a nations GDP measure? What does the growth rate of GDP measure?

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What does the level of a nation’s GDP measure? What does the growth rate of GDP measure? Would you rather live in a nation with a high level of GDP and a low growth rate or in a nation with a low level of GDP and a high growth rate?

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Principles of economics

ISBN: 978-0538453042

6th Edition

Authors: N. Gregory Mankiw

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Question Posted: Dec 14, 2012 06:07 AM

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What does the level of a nations GDP measure? What does the growth rate of GDP measure?

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The level of a nations GDP measures both the total income earned in the economy and the total exp...View the full answer

Principles of economics

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