If Pressed to Choose a Single Indicator of Changing Living

question 97

True/False

If pressed to choose a single indicator of changing living standards,most economists would probably choose nominal GDP growth per capita.

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Definitions:

Hollywood

The center of the United States film industry, located in Los Angeles, California, known for its historic studios and as a cultural icon for entertainment.

McCarthy Era

A period in the early 1950s in the United States characterized by heightened fears of communist influence and widespread accusations of subversion and treason.

Individualism

A social theory favoring freedom of action for individuals over collective or state control.

CIO

An abbreviation for the Congress of Industrial Organizations, a federation of unions that organized workers in industrial unions in the United States and Canada from 1935 to 1955.