Multiple Choice
Last year country A had a nominal GDP of $600 billion,a GDP deflator of 150 and a population of 40 million.Country B had a nominal GDP of $720 billion,a GDP deflator of 120 and a population of 50 million.From these numbers which country is likely to have had the higher standard of living?
A) Country A because it had the higher nominal GDP per person.
B) Country B because it had the higher nominal GDP per person.
C) Country A because it had the higher real GDP per person.
D) Country B because it had the higher real GDP per person.
Correct Answer:

Verified
Correct Answer:
Verified
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