In 2008, Armenia had a real GDP of approximately $4.21 billion and a population of 2.98 million. In 2009, real GDP was $4.59 billion and the population was 2.97 million. From 2008 to 2009, Armenia's standard of living ________.

Question

Quizplus · Accepted Answer

The standard of living, often measured by GDP per capita, increased because the real GDP increased while the population slightly decreased, leading to a higher GDP per capita.

In 2008, Armenia Had a Real GDP of Approximately $4