The amount of goods and services people can buy with the money they have is called their:
A)nominal income.
B) consumer price index.
C) profit margin.
D)standard of living.

Question

Quizplus · Accepted Answer

Standard of living is the most appropriate term as it refers to the level of wealth, comfort, material goods and necessities available to an individual or group. Nominal income refers to income before adjusting for inflation, consumer price index measures the average change in prices for goods and services, and profit margin refers to the amount of profit made by a company after deducting expenses.

The Amount of Goods and Services People Can Buy with the Money