The Standard of Living in Any Country Is

Multiple Choice

The standard of living in any country is:

A) measured by subtracting the supply of goods and services from the demand for goods and services
B) determined by the money left over after all expenses are paid
C) the general level of human happiness based on such things as life expectancy, educational standards, health, sanitation, and leisure time
D) measured by the output of goods and services people can buy with the money they have
E) higher for less developed countries like Angola, Bangladesh, and Ceylon than it is for the U.S.