Measures of GDP may understate the economic well-being of people in developing countries if those countries tend to

Name: Measures of GDP may understate the economic well-being of people in developing countries if those countries tend to
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Developing countries often have a large share of nonmarket activities, such as subsistence agriculture, informal labor, and unpaid household work. These activities are not included in GDP calculations, leading to an understatement of economic well-being.

Measures of GDP May Understate the Economic Well-Being of People