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Standard of Living: Definition & Measurement

Instructions:

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

question 1 of 3

Which of the following is the best explanation of standard of living?

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1. Which of the following are the two general categories of factors involved in determining a country's standard of living?

2. What's a typical economic measure used by economists to calculate the standard of living in a particular country?

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About This Quiz & Worksheet

The economic concept of a standard of living is a method of measuring how people live and the quiz and worksheet combination for this lesson will help you to understand and recall the various elements that comprise this economic idea.

Quiz & Worksheet Goals

These tools will test you on:

  • Two general categories of factors involved in determining a country's standard of living
  • A typical economic measure used by economists to calculate the standard of living in a particular country
  • Disadvantages of using only per capita income as a measure of standard living

Skills Practiced

The quiz and worksheet will assess your skills of:

  • Reading comprehension - ensure that you draw the most important information from the related macroeconomics lesson
  • Defining key concepts - ensure that you can accurately define main phrases, such as per capita income and standard of living
  • Knowledge application - use your knowledge to answer questions about economic measures

Additional Learning

Be sure that you have learned the important information by reviewing the lesson called Standard of Living: Definition & Measurement. These objectives will be addressed in detail:

  • Learn ten factors used to determine a country's standard of living
  • Understand the measure of per capita income
  • Know problems associated with using economic measures
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