What will cause the standard of living to decline?
A) if the rate of population growth is less than the rate of growth of real GDP
B) if the nominal GDP grows at a slower rate than real GDP
C) if the rate of population growth exceeds the rate of growth of real GDP
D) if the nominal GDP grows at a faster rate than real GDP
Correct Answer:
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Q6: Given a constant rate of growth of
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Q12: Given a constant rate of growth of
Q13: Which of the following best describes output
Q14: If real GDP is increasing more rapidly
Q15: How is the prosperity of a nation
Q16: If real GDP per capita is decreasing,what
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