A country's ________ indicates the average quality and quantity of goods and services consumed within the country.
A) economic infrastructure
B) standard of living
C) gross domestic product (GDP)
D) gross national product (GNP)
E) business cycle

Question

Quizplus · Accepted Answer

Standard of living is a measure of the level of comfort, material goods, and wealth experienced by a populace. It is calculated by dividing the total income of a country by its population. The higher the standard of living, the better the quality of life, and the greater the access to goods and services.

A Country's ________ Indicates the Average Quality and Quantity of Goods