Is GDP an adequate measure of economic welfare?
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Written by:
Joseph E
Date added:
October 7, 2016
Level:
University
Grade:
B
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Economic growth is one of the key macroeconomic objectives that influence national welfare. The economic growth rate must outstrip the population growth rate for living standards to increase and adequate job creation to sustain the population (Mohr et al, 2004). Favourable economic growth implies that a nation is better off, things are going well...
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Economic growth is one of the key macroeconomic objectives that influence national welfare. The economic growth rate must outstrip the population growth rate for living standards to increase and adequate job creation to sustain the population (Mohr et al, 2004). Favourable economic growth implies that a nation is better off, things are going well...
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