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List two economically important activities not captured

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List two economically important activities not captured in GDP.

How can externalities cause increases in GDP to not adequately reflect increases in wellbeing?

What is another flaw of GDP as a measure of standard of living in addition to those just mentioned?

Although this measure has these flaws (and others) it is the most oft-referenced statistic when considering standard of living differences across countries. Why?

Reference no: EM131395704

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