Based on the GDP information in the table below for 2 countries: Country A Country B GDP per capita in 2020 $30,000 $25,000 GDP per capita in 2021 $32,000 $30,000 Group of answer choices Countries A and B have improved their standard of living in 2021, but A’s living standards have lowered compared to B. Country A has improved their standard of living in 2021 more than country B. Countries A and B have improved their standard of living in 2021 but A has higher standards of living than B. Country B has a higher GDP in 2021 than country A.
Based on the GDP information in the table below for 2 countries: Country A Country B GDP per capita in 2020 $30,000 $25,000 GDP per capita in 2021 $32,000 $30,000 Group of answer choices Countries A and B have improved their standard of living in 2021, but A’s living standards have lowered compared to B. Country A has improved their standard of living in 2021 more than country B. Countries A and B have improved their standard of living in 2021 but A has higher standards of living than B. Country B has a higher GDP in 2021 than country A.
Principles of Macroeconomics (MindTap Course List)
7th Edition
ISBN:9781285165912
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter10: Measuring A Nation's Income
Section: Chapter Questions
Problem 9PA
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Question
Based on the
Country A | Country B | |
GDP per capita in 2020 | $30,000 | $25,000 |
GDP per capita in 2021 | $32,000 | $30,000 |
Group of answer choices
Countries A and B have improved their standard of living in 2021, but A’s living standards have lowered compared to B.
Country A has improved their standard of living in 2021 more than country B.
Countries A and B have improved their standard of living in 2021 but A has higher standards of living than B.
Country B has a higher GDP in 2021 than country A.
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