If We Use GDP to Measure Our Standard of Living

question 40

Multiple Choice

If we use GDP to measure our standard of living, then our procedure is

• A)accurate because our standard of living depends solely on goods and services.
• B)inaccurate because our standard of living has nothing to do with goods and services.
• C)inaccurate because our standard of living only depends on used goods and services.
• D)accurate only if we use nominal GDP rather than real GDP.
• E)inaccurate because our standard of living does not depend only on goods and services.

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Definitions:

Predictive Value

The extent to which a test can accurately predict the presence or future occurrence of a condition or disease.

Ethnic Groups

Communities or populations sharing common cultural traits, ancestry, language, history, society, and, in most cases, geography.

Health Belief Model

A psychological model that predicts health-related behaviors by focusing on the attitudes and beliefs of individuals.

Common Criticism

A frequently expressed disapproval or negative judgment shared by many.