Which of the following indicates that the average standard of living is rising?
a. Real GDP decreases faster than the price level.
b. Real GDP increases faster than the price level.
c. The population increases.
d. Real GDP increases faster than the population.
e. Population increases faster than real GDP.
D
You might also like to view...
When a tax is imposed on a good, the resulting decrease in consumer surplus is always larger than the resulting decrease in producer surplus
a. True b. False Indicate whether the statement is true or false
The instructors at College A are regularly late for their office hours. Based on a theory presented in the textbook, we would predict that the gap between the ______________student tuition and ___________equilibrium tuition is ___________ at College A
A) lower; higher; small B) higher; lower; small C) lower; higher; large D) higher; lower; large