A Good Measure of the Standard of Living Is

question 100

Multiple Choice

A good measure of the standard of living is

• A)real GDP per capita.
• B)nominal GDP per capita.
• C)total real GDP.
• D)total nominal GDP.
• E)the real interest rate.

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Definitions:

Assimilation

The process by which individuals or groups adopt the culture, customs, and attitudes of another group, losing their original identity.

Residentially Mobile

Refers to individuals or populations that frequently relocate from one dwelling place or community to another.

Collectivistic

A social pattern that emphasizes interdependence and the priorities of the group over individual achievements.

Individualistic

Describing a social pattern in which individual interests, independence, and personal achievements are emphasized over collective goals.