Increases in Real GDP Since 1900 Can Actually Underestimate Growth

question 187

Multiple Choice

Increases in real GDP since 1900 can actually underestimate growth in the standard of living for Americans since 1900 because

• A)the level of pollution in 1900 was much higher than it is today.
• B)the crime rate was higher in 1900 than it is today.
• C)goods and services are more expensive today as compared to 1900.
• D)the quality of health care that exists today was not available in 1900.

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Definitions:

Demographic Trends

Changes and patterns in the composition of a population over time, including age, race, employment, and education levels.

Globalization

The process by which businesses or other organizations develop international influence or start operating on an international scale, leading to increased interconnectedness.

Ethnic Diversity

The inclusion of individuals from a variety of ethnic and cultural backgrounds within a group or organization, enriching its social fabric.

African American

A term used to refer to citizens or residents of the United States who have total or partial ancestry from any of the black racial groups of Africa.