If Real GDP Grows at a Faster Rate Than Does

question 99

Multiple Choice

If real GDP grows at a faster rate than does population,then the standard of living,as measured by real GDP per person,

• A)improves.
• B)worsens.
• C)remains the same.
• D)cannot be measured.
• E)either improves,worsens,or stays the same,depending on the size of the population and the actual level of real GDP.

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Definitions:

FOB Destination

A shipping term indicating that the seller bears delivery costs and risks until the goods reach the buyer's specified location.

Perpetual Inventory System

A perpetual inventory system continuously updates the record of inventory with each sale or purchase, providing real-time data on the inventory levels.

Merchandise

Goods procured by a business for the purpose of resale to customers.

Inventory

The total amount of goods and materials held by a company intended for sale or to be used in the production of goods sold.