Since 1961, real GDP per capita has ________ and this measure ________ the actual growth in standards of living in Canada over this time.

Question

Quizplus · Accepted Answer

Real GDP per capita has increased since 1961, which means the best choice is either A or B. However, because real GDP per capita does not account for changes in prices and the cost of living, it may overstate the actual growth in standards of living. Therefore, A is the correct answer as it acknowledges the increase in real GDP per capita but also notes that it potentially understates the actual growth in standards of living.

Since 1961, Real GDP Per Capita Has ________ and This