4 Nov 2021
Problem 13
Page 780
Section: REVIEW QUESTIONS
Chapter 32: Macroeconomic Policy Around the World
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4 Nov 2021
Introduction
The standard of living refers to the quantity and quality of physical goods and services available to a certain population. Money, GDP, life expectancy, and economic mobility are the primary material components of the standard of living. It’s closely tied to the notion of the standard of life, which includes things like macroeconomic stability, religious and political freedom, environmental preservation, climate, and security.
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