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___is most likely to contribute to an improvement in our living standard a. an. increase in...

___is most likely to contribute to an improvement in our living standard
a. an. increase in the gdp defaltor combined with a increase in nominla gdp

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Answer #1

Gross domestic product is the monetary value of all goods and services produced in an economy over a period of time usually one year. The GDP doesn't take into account the net factor income from abroad. GDP is expressed through an equation as:-

GDP = C + I + G + ( X-M).

C is the Consumption.

I is investment.

G is government spending.

X-M is net exports.( X exports and M imports).

The correct option is (Economic growth).

Positive economic growth means that value of all goods and services in the economy increases.

Hope you got the answer.

Kindly comment for further explanation.

Thanks ?

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