Which of the Following Best Describes the Term Standard of Living

question 179

Multiple Choice

Which of the following best describes the term standard of living?

• A) Total quantity of goods and services produced by an economic system
• B) Total value of all goods and services produced by a national economy within a given period,regardless of where the factors of production are located
• C) Total value of all goods and services produced within a given period by a national economy through domestic factors of production
• D) Conditions of the economic system in which an organization operates
• E) Total quantity and quality of goods and services that a country's citizens can purchase with the currency used in their economic system

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Big Data

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