The Key Determinant of a the Standard of Living in a Country

question 305

Multiple Choice

The key determinant of a the standard of living in a country is

• A) the amount of goods and services produced from each hour of a worker's time.
• B) the total amount of goods and services produced within the country.
• C) the total amount of its physical capital.
• D) its growth rate of real GDP.

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Definitions:

Common Stock

A type of security that represents ownership in a corporation, giving shareholders voting rights and a claim on profits in the form of dividends.

Dividend

A disbursement from a corporation to its stockholders, often derived from earnings.

Preferred Stock

A class of ownership in a corporation that has a higher claim on assets and earnings than common stock, often with dividend priority.

Common Stock

A form of corporate equity ownership, a type of security representing ownership in a corporation.