The Human Development Index was proposed because
A) people confuse nominal GDP and real GDP.
B) nominal GDP and real GDP are subjective measures.
C) of the limitations of real GDP as a measure comparing the standard of living in different nations.
D) the GDP deflator changes if the base year is changed.
E) different nations have different populations.
C
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During the German hyperinflation of the 1920s, the large increases in the money supply were generated by the German government
A) significantly raising the required reserve ratio to reduce business loans. B) significantly lowering the required reserve ratio to enable German businesses to obtain loans. C) selling large quantities of government bonds to the central bank, the Reichsbank. D) printing large quantities of German marks.
If a firm does NOT know its rival's profit function, then we consider that information to be
A) irrelevant in deciding its best strategy. B) private. C) common knowledge. D) Pareto sub-optimal.