In national income accounting, the value of worn out or obsolete capital is represented by

If real GDP grows at a faster rate than does population, then the standard of living, as measured by real GDP per person,

A) worsens. B) remains the same. C) cannot be measured. D) improves. E) either improves, worsens, or stays the same, depending on the size of the population and the actual level of real GDP.

Domestic saving must equal domestic investment in

a. both closed and open economies. b. closed, but not open economies. c. open, but not closed economies. d. neither closed nor open economies.