1.2.2 - Standard of Living
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Practice Questions
Test your understanding with targeted questions
What is National Income?
💡 Hint: Think about the definition we've discussed in class.
How does a higher National Income influence the standard of living?
💡 Hint: Consider the benefits of economic growth.
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Interactive Quizzes
Quick quizzes to reinforce your learning
What does National Income encompass?
💡 Hint: Think about what we count to avoid double counting.
True or False: A higher National Income guarantees all citizens have a high standard of living.
💡 Hint: What about income inequality?
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Challenge Problems
Push your limits with advanced challenges
Assess how the exclusion of unrecorded economic activities can impact the perceived National Income of a country.
💡 Hint: Consider what kinds of activities might not be counted.
Critique the use of GDP as the sole measure of a country's standard of living. What additional indicators should be considered?
💡 Hint: Look into the broader aspects of well-being.
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