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(Solved): answer should not exceed 2-3 paragraphs.
A4. Explain the concept of real GDP. Why does a higher real ...
answer should not exceed 2-3 paragraphs.
A4. Explain the concept of real GDP. Why does a higher real GDP
per capita imply a better standard of living in a country? Why is
real GDP per capita an imperfect measure of the standard of
living?
*Introduction* Gross domestic product is a measure of the countrys total national income generated from the domestic activities and the net foreign capital inflo