The currency exchange rate is the rate at which one nation's currency can be exchanged for another

International comparisons of per capita GDP may not reflect the standard of living because __________. a. currency exchange rates may not fully account for differences in purchasing power, and thus people in a country with high per capita GDP may have a lower standard of living because of high local prices for food, housing, or other necessities. b. people in some countries enjoy poverty and do

not mind a lack of access to medicine, education, nutritious food, and safe drinking water. c. markets do not exist in less-developed countries. d. None of the answers above are correct.

In order for a recession to occur real GDP would have to fall for at least _____ business quarter(s).

A. one B. two C. three D. four