Which of the Following Is Most Important If the Living

question 19

Multiple Choice

Which of the following is most important if the living standards of people residing in a country are going to improve?

• A) growth of population
• B) growth of per capita GDP
• C) growth of the money supply
• D) growth of government expenditures as a share of GDP

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Definitions:

Minimum Wage

The lowest legally permissible wage that employers can pay their employees, set by governmental policies.

Uniforms

Standardized clothing worn by members of an organization or team to signify membership and promote unity.

Exclusion

The practice of blocking competitors from participating in a market.

Minimum Wage

The lowest hourly rate employers can legally pay their workers, as set by government law.