In the Long Run, a Country's Material Standard of Living

question 2

Multiple Choice

In the long run, a country's material standard of living is determined by:

• A) the difference between its exports and imports.
• B) the average level of prices and the average income of its population.
• C) its output relative to its population.
• D) the amount of money supply relative to its population.

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Definitions:

Monthly Withdrawals

Regular amounts of money taken out from an account or investment every month.

Investment

The allocation of resources, usually money, with the expectation of generating an income or profit.

Retirement Fund

A Retirement Fund is a pool of funds contributed by employees, employers, or both for the future financial security of retirees.

Withdrawals

The act of taking money out of an account which can affect the account balance and interest calculations.