If real GDP increases over time,the cost of living will
A)always remain constant.
B)always decrease.
C)always increase.
D)either remain constant or increase.
E)More information is needed to determine how the cost of living changes.

Question

Quizplus · Accepted Answer

Real GDP measures the value of economic output, but it doesn't directly determine the cost of living, which is influenced by various factors such as inflation, supply and demand, and government policies.

If Real GDP Increases Over Time,the Cost of Living Will