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Macroeconomics 1st Edition by Dean Karlan,Jonathan Morduch
Edition 1ISBN: 978-0077332648Macroeconomics 1st Edition by Dean Karlan,Jonathan Morduch
Edition 1ISBN: 978-0077332648 Exercise 2
Suppose a college student is texting while driving and gets into a car accident causing $2,000 worth of damage to her car. Assuming the student repairs her car, does GDP rise, fall, or stay constant with this accident? What does your answer suggest about using GDP as a measure of well-being?
Explanation
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Gross domestic product (GDP):
GDP refer...
Macroeconomics 1st Edition by Dean Karlan,Jonathan Morduch
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