Does a higher GDP imply high welfare. Why
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Yes it does
An increasing GDP is often seen as a measure of welfare and economic success. ... It is common to divide this indicator by a country's population to better gauge how productive and developed an economy is – the GDP per capita
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YES.
All economic value is subjective—free-market prices are determined by how much better off individuals believe a good or service can make them. ... So, in some sense, higher GDP should equate to greater human progress, because it means more valuable goods and services have been created
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