Increases in Real GDP Since 1900 Can Actually Underestimate Growth

question 187

Multiple Choice

Increases in real GDP since 1900 can actually underestimate growth in the standard of living for Americans since 1900 because

• A)the level of pollution in 1900 was much higher than it is today.
• B)the crime rate was higher in 1900 than it is today.
• C)goods and services are more expensive today as compared to 1900.
• D)the quality of health care that exists today was not available in 1900.

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Definitions:

Plato

An ancient Greek philosopher, student of Socrates, and teacher of Aristotle, known for his works on forms, ethics, and politics.

World of Becoming

In Plato’s metaphysics, the world we live in, the world of change and objects perceived by the senses.

World of Being

In Plato’s metaphysics, the world of ideal Forms, a world that is unchanging, a world we can know only through reason.

Berkeley

Represents George Berkeley, an 18th-century philosopher known for his theory of immaterialism, arguing that material objects exist only in the mind and through perception.