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Give Three Reasons Why Real GDP Is Not an Adequate

question 137

Essay

Give three reasons why real GDP is not an adequate measure of a nation's well being. Despite these limitations, do you think real GDP is a useful statistic? Explain your answer.


Definitions:

Intrinsically Satisfying

An activity or outcome that is rewarding or fulfilling in itself, not because of any external reward it might bring.

Strategic Connection

A purposeful relationship or partnership formed to achieve mutual benefits and align with strategic goals.

Controversial

Referring to something that is likely to give rise to public disagreement or debate.

Find Purpose

The process of discovering a meaningful direction in personal or organizational activities that contributes to broader societal or communal goals.

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