2.5 - GDP AND WELFARE
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Practice Questions
Test your understanding with targeted questions
Define GDP in your own words.
💡 Hint: Think about the economic output within a country's borders.
What is one reason why GDP may not accurately reflect a country's welfare?
💡 Hint: Consider the impact of income concentration.
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Interactive Quizzes
Quick quizzes to reinforce your learning
What does GDP stand for?
💡 Hint: Consider what GDP measures.
True or False: An increase in GDP always means an increase in individual welfare.
💡 Hint: Reflect on cases where GDP grows but most people suffer.
1 more question available
Challenge Problems
Push your limits with advanced challenges
Propose a new framework for measuring economic well-being that includes GDP as one of many metrics. What indicators would you include and why?
💡 Hint: Think about what factors contribute to a holistic view of welfare.
Analyze the impact of a natural disaster on a country’s GDP and welfare. How might GDP increase while real welfare declines?
💡 Hint: Consider how recovery efforts can skew GDP calculations.
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