Which of the following is the best measure of the standard of living?
A) Nominal GDP for the whole economy.
B) Real GDP for the whole economy.
C) Nominal GDP per capita.
D) Real GDP per capita.
Correct Answer:
Verified
Q2: What is 'human capital'?
A)A term used to
Q3: Workers in _ countries have _ to
Q4: If, between 2007 and 2017, the economy's
Q5: When the capital stock per hour worked:
A)increases,
Q7: Suppose that real GDP for 2017 was
Q8: The only way the standard of living
Q9: If GDP grew 3% in 2015, 2.8%
Q10: Which of the following has not been
Q11: If GDP is currently $13 trillion and
Q39: When production in an economy grows more
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