GDP Is Used as the Basic Measure of a Society's

question 38

Multiple Choice

GDP is used as the basic measure of a society's economic well-being. What is a better measure of the economic well-being of individuals in society?

• A) GDP per person
• B) the consumption component of GDP
• C) government expenditures per person
• D) the level of business investment

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Definitions:

Official Poverty Line

The minimum level of income deemed necessary to achieve an adequate standard of living in a given country, used to identify individuals and households in need of assistance.

Minimum Food Bundle

The minimum set of food items required to meet the nutritional needs of an individual or family, often used in assessments of poverty and food security.

Department of Agriculture

A government body responsible for developing and executing policies on farming, agriculture, and food.

African-Americans

A racial or ethnic group in the United States with ancestry from any of the black racial groups of Africa.