Which of the following can be the best measure of the standard of living in a country?
a. Nominal GDP plus information about non-market indicators such as health and education
b. Real GDP plus information about non-market indicators such as health and education
c. GDP deflator plus information about base year pricing
d. Per capita GDP plus information about non-market indicators such as health and education
d
You might also like to view...
If technological change occurs in the economy,
A) the long-run aggregate supply curve will shift to the left. B) we will move up along the long-run aggregate supply curve. C) we will move down along the long-run aggregate supply curve. D) the long-run aggregate supply curve will shift to the right.
Within the AD/AS model, an increase in capital formation that permits the economy to achieve a larger output will
a. increase long-run aggregate supply. b. increase short-run aggregate supply, but long-run aggregate supply will be unaffected. c. increase aggregate demand. d. decrease aggregate demand.