Suppose That Real GDP Grew More in Country a Than

question 148

Multiple Choice

Suppose that real GDP grew more in Country A than in Country B last year.

• A)Country A must have a higher standard of living than country B.
• B)Country A's productivity must have grown faster than country B's.
• C)Both of the above are correct.
• D)None of the above are correct.

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Definitions:

Series I Savings Bonds

U.S. government savings bonds that earn interest based on a combination of a fixed rate and an inflation rate.

Qualified Higher Education Expenses

Expenses associated with attendance at a post-secondary educational institution, which may be eligible for tax benefits.

AGI

Adjusted Gross Income, which is an individual's total gross income minus specific deductions allowed by the IRS.

Series EE Bonds

Savings bonds issued by the U.S. government that pay interest until they reach maturity at 30 years.