If real GDP is growing more slowly than the rate of population growth then, ceteris paribus, the average standard of living is

Question

Quizplus · Accepted Answer

When real GDP grows more slowly than the population, it means that the amount of economic output per person is decreasing. This typically leads to a decrease in the average standard of living, as there is less wealth and production to distribute per capita.

If Real GDP Is Growing More Slowly Than the Rate