Between 1960 and 2017 U

question 108

Essay

Between 1960 and 2017 U.S.GDP, measured in dollars of constant purchasing power, expanded by a factor of 5.However, the standard of living only increased by 3 times over this period.Explain the difference.

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Definitions:

Clark

A surname that could refer to various individuals in history, without additional context it's not specific to a single figure.

Rival Indian Tribes

Indigenous groups in North America that were often in competition or conflict with each other over resources, territory, or political influence.

Great Plains

A broad expanse of flat land, much of it covered in prairie, steppe, and grassland, that lies west of the Mississippi River tallgrass prairie in the United States and east of the Rocky Mountains.

Beaver Hats

Fashionable and highly sought-after hats made from beaver pelts, popular in Europe and the Americas during the 17th and 18th centuries due to their durability and waterproof properties.