Although imperfect,which of the following is used as a measure of the standard of living?
A) real GDP ÷ population
B) real GDP × population
C) nominal GDP × population
D) nominal GNP ÷ population
E) nominal GNP × population
Correct Answer:
Verified
Q140: Bobby was researching the economic growth of
Q141: The relationship between real GDP and potential
Q142: In the United States,between 1961 and 2011,there
Q143: During the business cycle,
A)real GDP fluctuates around
Q144: Even though it is not a perfect
Q146: GDP is
A)a perfect measure of the standard
Q147: Expenditures in GDP do not include
A)used goods
Q148: Over the business cycle,
A)potential GDP fluctuates around
Q149: A south sea island produces only coconuts.In
Q150: The business cycle describes
A)the change in potential
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