How Real GDP per Capita Affects the Standard of Living Video

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

What is the standard of living?

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1. Economists define Real GDP per capita as which of the following?

2. In the long run, what is a country's standard of living dependent on?

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About This Quiz & Worksheet

The quiz will test you on the meaning or calculation of the real GDP and the standard of living. You will also be answering questions based on scenarios related to these concepts.

Quiz & Worksheet Goals

The quiz will test you on:

  • Standard of living
  • Real GDP
  • What a country's standard of living depends on

Skills Practiced

  • Reading comprehension - ensure that you draw the most important information from the related GDP lesson
  • Making connections - use understanding of the concept of standard of living to answer quiz questions
  • Critical thinking - apply relevant concepts to examine information about the real GDP in a different light
  • Knowledge application - use your knowledge of the real GDP to answer a question about countries' standards of living in a hypothetical situation

Additional Learning

Head over to the related lesson, How Real GDP per Capita Affects the Standard of Living, to learn more. The lesson will cover the following topics:

  • Savings rates
  • The relation between GDP and population
  • Calculating the real GDP
  • Drivers of standard of living
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