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Macroeconomics 11th Edition by Stephen Slavin
Edition 11ISBN: 978-0077641559Macroeconomics 11th Edition by Stephen Slavin
Edition 11ISBN: 978-0077641559 Exercise 5
Circle the letter that corresponds to the best answer. Which statement is the most valid?
A) The American standard of living is, by far, the highest in the world.
B) The standard of living of the average American is about twice that of the average Russian.
C) GDP per capita in the United States in 2009 was almost half of that in Luxembourg.
D) If the underground economy, illegal production, and household production were accurately measured and added to GDP, our GDP would probably rise by less than 1 percent.
A) The American standard of living is, by far, the highest in the world.
B) The standard of living of the average American is about twice that of the average Russian.
C) GDP per capita in the United States in 2009 was almost half of that in Luxembourg.
D) If the underground economy, illegal production, and household production were accurately measured and added to GDP, our GDP would probably rise by less than 1 percent.
Explanation
Verified
Verified
For economy U, the GDP per capita is not...
Macroeconomics 11th Edition by Stephen Slavin
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