Question
3. Both Croatia and Oman have a GDP of $80,890,000,000. Yet the people of Oman have a substantially higher standard of living than do the
3. Both Croatia and Oman have a GDP of $80,890,000,000. Yet the people of Oman have a substantially higher standard of living than do the people of Croatia. Explain how Oman can have a higher standard of living than Croatia even though the two countries have the same GDP.
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Principles of Economics
Authors: Gregory Mankiw
7th edition
128516587X, 978-1285165875
