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Effective measure of living standards

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Reference no: EM131441615

Responses should be approximately 50-100 words each:

1. What economic factors are taken into account when measuring GDP?

2. What makes GDP an effective measure of living standards?

3. How might quality-of-life measures be determined and measured?

4. What aspects of our quality of life in the United States may be difficult to compare with other countries around the world, such as Japan, Turkey, or Iceland?

Reference no: EM131441615

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