Which of the following is true?
A) Real standards of living can increase without any positive economic growth.
B) Real growth rates fail to account for by price level changes.
C) Real and nominal values are not related.
D) Real standards of living decrease with positive economic growth.

Question

Quizplus · Accepted Answer

Real standards of living can increase without any positive economic growth if the improvements are due to technological advancements, increased efficiency, or redistribution of resources. Real growth rates do account for price level changes, and real and nominal values are related. Real standards of living generally increase with positive economic growth.

Which of the Following Is True