Which of the following is used to measure directly the average standard of living across countries?
A) real GDP
B) nominal GDP
C) purchasing power parity
D) GDP per person
Correct Answer:
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Q1: The business cycle depicts
A)fluctuations in the general
Q2: Unemployment describes the condition where
A) equipment and
Q3: In making international comparisons of living standards
Q6: Why are high rates of unemployment of
Q8: Before the period of modern economic growth,
A)
Q8: Which of the following countries would economists
Q9: The term "recession" describes a situation where
A)inflation
Q10: When economists refer to "investment," they are
Q20: If the prices of all goods and
Q30: Savings are generated whenever
A) prices are rising.
B)
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