What GDP measures? See below..

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Economics

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Applying Saint Leo’s Core Values to your analysis, describe what GDP measures and some of the limitations of GDP. What is the relationship between economic well-being and social well-being (i.e. happiness)? Can economic growth and productivity align with our Core Values?

Core values include excellence, community, respect, personal development, responsible stewardship and integrity.

This assignment must be a 2-3 page Word Document and use 12 pt. Times New Roman font with proper APA citations.

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Explanation & Answer

Attached.

What GDP Measures? - Outline
Thesis statement: GDP helps measure various aspect of the economy. It also has some
limitations.

I.

Components of GDP measure
A. Total net exports
B. Business investment
C. Government spending
D. Personal spending

II.

Limitations of GDP measure
A. Does not consider the quality of life
B. Does not account for all productive activities
C. Does not account for leisure time
D. Overlooks the impact on the environment


Running head: WHAT GDP MEASURES?

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What GDP Measures?
Name
Institution

WHAT GDP MEASURES?

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What GDP Measures?

Gross Domestic Product is the measure of a nation's economy. It comprises of the
aggregate amount of goods and services that are produced within a country for a given
period. It is used as a measure of how healthy the economy of a nation is. This is helpful in
knowing how well the policies put in place are working towards making the economy more
efficient. The strength of different countries is also measured using the GDP (Dowrick &
Quiggin, 1997).
GDP is, therefore, a function of many things. It is an output of the economic activities
and transactions that happen within a nation. There ar...


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