explain GDP and welfare
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GDP is a flawed measure of human welfare' GDP has always been a measure of output, not of welfare. Using current prices, it measures the value of goods and services produced for final consumption, private and public, present and future. ... GDP is also an indicator of human welfare
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Answer:
'GDP is a flawed measure of human welfare' GDP has always been a measure of output, not of welfare. Using current prices, it measures the value of goods and services produced for final consumption, private and public, present and future. ... GDP is also an indicator of human welfare.
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