What are some advantages and disadvantages of GDP (Gross Domestic Product)?:confused:
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What are some advantages and disadvantages of GDP (Gross Domestic Product)?:confused:
Advantages:
Objective means of comparing countries' economic health
Easier to measure money than other economic indicators
Disadvantages:
Doesn't take into account activity that doesn't include money changing hands
Doesn't reflect sustainability; can be affected by temporary conditions
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