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GDP is often used as a measure of well-being. Is it a reasonable

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ECN 351 Topic 5 Discussions GCU

ECN 351 Topic 5 DQ 1

GDP is often used as a measure of well-being. Is it a reasonable measure of well-being? If so, why does Norway with its high standard of living have a relatively low GDP? Why do India and China, with their relatively low standards of living have some of the highest GDP in the world?

ECN 351 Topic 5 DQ 2

Since 1970, the labor force participation rate for women has increased from 43.3% in 1970 to 56.9% in 2018. During the same period, real GDP increased from $4.715 trillion to $17.286 trillion. Are these two events related? Explain.

 

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