The Best Measure Economists Have of How Successful a Country

question 33

Multiple Choice

The best measure economists have of how successful a country is in providing a high standard of living to its residents is

• A) net worth.
• B) nominal GDP.
• C) real GDP per capita.
• D) national income.

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Definitions:

Feng Shui

An ancient Chinese practice involving the arranging of living spaces or environments to create harmony and balance with the natural world.

State of Mind

The particular mental or emotional condition that someone is in at a specific time.

Maximize Profit

A strategy focusing on increasing the difference between the revenue generated and the costs incurred by a business.

Across Cultures Competency

The proficiency in understanding, interacting, and effectively communicating with people of different cultural origins.