Examlex
Frankel and Romer found that on average,a _______ percent increase in the ratio of a country's trade to its gross domestic product increases income per person by at least one-half percent.
Standard of Living
The standard of living refers to the degree of wealth, comfort, material goods, and necessities available to a person or community.
Saving Rate
The portion of income that is not spent on consumption but instead is saved or invested.
Aggregate Demand
The sum of all expenditures for goods and services.
GDP
The total monetary value of all goods and services produced within a country's borders in a specific time period.
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