In 2011, Armenia Had a Real GDP of Approximately $4

question 292

Multiple Choice

In 2011, Armenia had a real GDP of approximately $4.21 billion and a population of 2.98 million. In 2012, real GDP was $4.59 billion and population was 2.97 million. From 2011 to 2012, Armenia's standard of living ________.

• A) increased
• B) decreased
• C) did not change
• D) might have increased, decreased, or remained unchanged but more information is needed to determine which

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Definitions:

Mutual Fund

A type of investment vehicle consisting of a portfolio of stocks, bonds, or other securities, which is managed by an investment company with the capital pooled from many investors.

Rate of Total Return

A measure of the gain or loss on an investment over a specified period, including interest, capital gains, dividends, and distributions realized over the period.

Rental Income

Income received from leasing out property or other real estate assets.

Property Taxes

Taxes paid by property owners based on the assessed value of their real estate, usually levied by local governments.