What Will Cause the Standard of Living to Decline

question 101

Multiple Choice

What will cause the standard of living to decline?

• A)if the rate of population growth is less than the rate of growth of real GDP
• B)if the nominal GDP grows at a slower rate than real GDP
• C)if the rate of population growth exceeds the rate of growth of real GDP
• D)if the nominal GDP grows at a faster rate than real GDP

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Definitions:

Scholarships

Financial aid awarded to students to help pay for education expenses, often based on academic achievement or other criteria.

Restricted Fund Method

An accounting practice used for reporting resources that have been restricted by donors or grantors.

Externally Restricted Contribution

Funds received by an organization that are designated for specific purposes by the donor, restricting their use by the recipient.

General Fund

The principal fund of a governmental entity, covering most basic operational activities and services.