Which of These Is the Best Measure of the Average

question 79

Multiple Choice

Which of these is the best measure of the average standard of living in an economy?

• A)The unemployment rate
• B)Nominal income
• C)Real GDP
• D)National debt
• E)Real GDP per capita

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Definitions:

Abroad

In a country other than one's own; experiencing or traveling to foreign countries.

Asian Immigrants

Individuals from Asian countries who have moved to a new country, who often face unique challenges and opportunities in their new environments, contributing significantly to the cultural and economic aspects of the host countries.

Latino Immigrants

Individuals from Latin American countries who have moved to other countries, often for economic opportunities, better living conditions, or to escape violence or political instability.

African Americans

Citizens of the United States with partial or total ancestry from any of the black racial groups of Africa, having a distinct cultural and historical heritage.