________ refers to the total quality and quantity of goods and services that a country's citizens can purchase with the currency used in their economic system.
A) Aggregate output
B) The national debt
C) Standard of living
D) The business cycle
E) The consumer price index

Question

Quizplus · Accepted Answer

Standard of living refers to the overall well-being and quality of life enjoyed by the people living in a particular country, which is reflected in the quantity and quality of goods and services they can purchase with their currency. It takes into account factors such as income, education, healthcare, environmental quality, and access to goods and services, among others.

________ Refers to the Total Quality and Quantity of Goods