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Why does gross output do a better job than GDP of measuring overall economic activity? How could you construct a new statistic that focused only on non-final economic activity? Given what you know about the behavior of GO and GDP during the Great Recession, would you expect your new statistic to show more or less volatility than GO and GDP? Why? How would you rank the three in terms of volatility? ⌊07.6 | Numerade
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