Last Year Country a Had a Nominal GDP of $600

question 15

Multiple Choice

Last year country A had a nominal GDP of $600 billion,a GDP deflator of 150 and a population of 40 million.Country B had a nominal GDP of $720 billion,a GDP deflator of 120 and a population of 50 million.From these numbers which country is likely to have had the higher standard of living?

• A)Country A because it had the higher nominal GDP per person.
• B)Country B because it had the higher nominal GDP per person.
• C)Country A because it had the higher real GDP per person.
• D)Country B because it had the higher real GDP per person.

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Definitions:

Occupational Safety

Regulations and practices designed to ensure the safety and health of workers in their workplace.

Health Act

Legislation aimed at regulating healthcare practices, ensuring public health and safety, and often providing guidelines for healthcare providers and institutions.

Civil Penalties

A form of punishment imposed by a governmental entity for violations of certain laws or regulations, typically involving a monetary fine without criminal intentions.

Criminal Penalties

Criminal penalties refer to the sanctions imposed by a court following a conviction for a criminal offense, such as fines, probation, or imprisonment.