00:45:40 Which statement is correct? Select the best answer. Answer 2 Points Keypad Keyboard Shortcuts Standard of living is a broader term than GDP. O While GDP focuses on all elements that affect people's well-being, whether they are bought and sold in the market or not, the standard of living includes production that is generally bought and sold in markets. A larger GDP value of one country definitely proves that the standard of living in it is higher than in a country with a lower GDP value