The Gross Domestic Product (GDP) is one of the fundamental ideas of introductory macroeconomics. That’s because GDP is the core of one of the best ways to measure citizens’ well-being. We’ll get to that in a future post, though. For now, let’s talk about what GDP measures, and pretend that we’re not going to allow [...]
Source: http://thebadeconomist.com/2011/03/17/whats-so-gross-about-the-domestic-product/
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