27 Oct 2021
Problem 26
Page 469
Section: CRITICAL THINKING QUESTIONS
Chapter 19: The Macroeconomic Perspective
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27 Oct 2021
Introduction
Standard of living is a broad definition that incorporates a variety of characteristics, some of which are not purchased and sold on the open market and others which are. The amount of GDP per capita, for example, captures a little of what we understand by the quality of living, as demonstrated by the fact that the majority of global movement involves people migrating between countries with low GDP per capita to regions with high GDP per capita.
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