When comparing living standards across time,one should use nominal GDP rather than real GDP.

Name: When comparing living standards across time,one should use nominal GDP rather than real GDP.
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Quizplus · Accepted Answer

When comparing living standards across time, it's important to use real GDP rather than nominal GDP as real GDP adjusts for inflation and provides a more accurate picture of economic growth and changes in living standards. Nominal GDP does not take into account inflation and therefore can be misleading.

When Comparing Living Standards Across Time,one Should Use Nominal GDP