Increases in real GDP since 1900 can actually underestimate growth in the standard of living for Americans since 1900 because
A) the level of pollution in 1900 was much higher than it is today.
B) the crime rate was higher in 1900 than it is today.
C) goods and services are more expensive today as compared to 1900.
D) the quality of health care that exists today was not available in 1900.
Correct Answer:
Verified
Q3: Table 10-1 Q4: Because of technological change,oil companies like Chevron Q5: If real GDP in a small country Q6: The quantity of goods and services that Q7: If the growth rate of real GDP Q9: Since 1900,real GDP per capita has _ Q10: Technological advances generally result in Q11: Since 1900,real GDP in the United States Q12: Countries with high rates of economic growth Q13: If you invest $10,000 in a bond
A)decreased incomes.
B)increased life
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