Between 1950 and 2004 We Can Say That

question 68

Multiple Choice

Between 1950 and 2004 we can say that:

• A) The per capita GDP rose sharply while per capita GPI stayed flat.
• B) The per capita GPI rose sharply while per capita GDP stayed flat.
• C) Both the GDP and the GPI rose sharply.
• D) Both the GDP and the GPI stayed relatively flat.
• E) While GDP rose sharply, the GPI could not be measured.

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Definitions:

Federal Minimum Wage

The lowest legal hourly pay for many workers, as mandated by federal law.

Manufacturing

The process of turning raw materials into finished products through various methods, including human labor, machinery, and chemical processing.

CPI

The Consumer Price Index, a measure that examines the weighted average of prices of a basket of consumer goods and services, such as transportation, food, and medical care, calculated by taking price changes for each item in the predetermined basket of goods and averaging them.

Real Wages

The purchasing power of wages, adjusted for inflation, indicating the quantity of goods and services that can be bought with a unit of labor.