Suppose a Country's Real GDP Increases

question 43

Multiple Choice

Suppose a country's real GDP increases. At the same time, its population also increases. What happens to its standard of living?

• A) Its standard of living remains the same.
• B) Its standard of living depends on the price level.
• C) Its standard of living could rise if population growth exceeds output growth.
• D) Its standard of living could rise if population growth is smaller than output growth.

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Definitions:

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The supervision and regulation of activities by a federal authority to ensure compliance with laws and standards.

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Forty Years

A period of four decades, often used to denote a significant amount of time in discussions of human life, historical events, or long-term changes.