Question 31 Which of the following is the best measure of a country’s standard of living?

Question 31 

a) 

nominal GDP per capita

b) 

real GDP

c) 

nominal GDP

d) 

real GDP per capita

Question 59 

a) 

too much of the good.

b) 

zero output.

c) 

too little of the good.

d) 

a quantity equal to the efficient outcome, as market incentives can never be considered too strong.