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Which of the following statement is TRUE? I. Economists exclusively use GDP per capita as a measure of living standard. II. Nominal GDP per capita
Which of the following statement is TRUE?
I.Economists exclusively use GDP per capita as a measure of living standard.
II.Nominal GDP per capita is used to track changes in living standard over time.
III.When economists speak of "long-run economic growth," they are talking about per capita real GDP growth of a country.
Group of answer choices
II only
I and III only
III only
I, II, and III
I only
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