Real GDP per person is not an accurate measure of the standard of living because it ______.

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A. Includes the goods and services that governments buy

B. Omits the goods and services that people produce for themselves

C. Includes goods and services bought by firms

D. Omits the goods and services imported from other countries

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Foundations of Macroeconomics

ISBN: 978-0134492001

8th edition

Authors: Robin Bade, Michael Parkin

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Question Posted: May 21, 2018 05:42 AM

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Real GDP per person is not an accurate measure of the standard of living because it ______.

Question:

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B In less developed nations GDP ...View the full answer

Foundations of Macroeconomics

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