If real GDP is higher in one country than in another, then we can be sure that the standard of living is higher in the country with the higher real GDP.

Name: If real GDP is higher in one country than in another, then we can be sure that the standard of living is higher in the country with the higher real GDP.
Brand: Quizplus
Rating: 4.7 (39 reviews)

Question

Quizplus · Accepted Answer

Real GDP measures the total economic output of a country, but it does not account for population size, income distribution, or other factors that affect the standard of living.

If Real GDP Is Higher in One Country Than in Another