Describe the uses of real gd
Discussion:
1) Define the GDP and explain why the value of production, income, and expenditure are the same for an economy.
2) Describe the uses of real GDP and explain its limitations as a measure of the standard of living.
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Describe the uses of real GDP and explain its limitations as a measure of the standard of living.
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Justify your choice of a design based on minimizing threats to validity and practical considerations.
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