Gordon states that ________ caused the substantial increase in the standard of living in South Korea relative to that of the Philippines during the period 1960-2010.
A)lower unemployment rates
B)higher inflation rates
C)higher rate of growth in per capita real GDP.
D)All of the above

Question

Quizplus · Accepted Answer

The higher rate of growth in per capita real GDP was the main factor that caused the substantial increase in the standard of living in South Korea relative to that of the Philippines during the period 1960-2010. Lower unemployment rates and higher inflation rates could have contributed to this growth, but they were not the primary causes.

Gordon States That ________ Caused the Substantial Increase in the Standard