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Reika [66]
3 years ago
13

How do economics measure a nations standard of living

Mathematics
1 answer:
ohaa [14]3 years ago
3 0
Yet there is a generally accepted measure for standard of living: average real gross domestic product (GDP) per capita. Let's break it down piece by piece: GDP measures annual economic output — the total value of new goods and services produced within a country's borders.
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