If We Use GDP to Measure Our Standard of Living,then

question 140

Multiple Choice

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

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