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11. Gross Domestic Product (GDP) and Consumer Price Index (CPI)
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11. Gross Domestic Product (GDP) and Consumer Price Index (CPI)
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11. Gross Domestic Product (GDP) and Consumer Price Index (CPI) / Calculating GDP / Problem 1
Problem 1
Which of the following statements best evaluates the relationship between GDP and citizens' happiness?
A
Lower GDP always results in decreased happiness for citizens.
B
GDP is unrelated to both standard of living and happiness.
C
Higher GDP always results in increased happiness for citizens.
D
Higher GDP generally indicates a higher standard of living, but it does not necessarily correlate with increased happiness.
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