In order to compare changes in the standard of living over a series of years, we would usemultiple choicereal GDP.nominal GDP.average GDP.marginal GDP.
Question
Solution 1
To compare changes in the standard of living over a series of years, we would use real GDP.
Here's why:
- Real GDP is a measure of economic output that accounts for the effects of inflation or deflation. It allows us to view the GDP through a lens that removes the distortions of price changes, m Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study prob
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