Why real gdp have limitation in determining economic welfare, Microeconomics

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Why real gdp have limitation in determining economic welfare

Problem

a) What is a recession?

b) Why does real GDP have limitations in determining economic welfare?

c) List and discuss various types of goods and services omitted from measured GDP.

d) What is " underground production"? Is it included in GDP?

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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Microeconomics: Why real gdp have limitation in determining economic welfare

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