Read section “Introduction to the Macroeconomic Perspective” from Chapter 19 in the book Principles of Economics.
Next, answer the following questions. Your responses should be a minimum of 100 words each:
Explain why GDP is an effective measure of living standards.
Discuss how quality-of-life measures may be determined and measured.
Explain why aspects of our quality of life in the United States may be difficult to compare with other countries around the world.
