Objective: Gross Domestic Product (GDP) is the broadest measure of output for an economy. However, GDP does not perfectly measure well-being of a nation and its citizens’ welfare.
PROMPT: Discuss what GDP is and what it measures? Discuss what the shortcomings (limitations) of GDP as a measure of well-being and welfare of a nation are?
INSTRUCTIONS:
APA FORMAT
NO GRAMMAR ISSUES
250-300 WORDS
2-3 CREDIBLE SCHOLARLY SOURCES
USE BOOK BELOW FOR REFERENCE AND ASSISTANCE
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PRINCIPLES OF MACROECONOMICS, volume 1.0 by Rittenberg and Tregarthen
