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Category - Economics

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Gross Domestic Product (GDP) is an index that measures the market value of all goods and products produced within a country in a given year. The correlation between the GDP and the standard of living of an individual in that country at any given time is:
  1. positive
  2. negative
  3. approaching zero
  4. weakly negative
Explanation
Answer: A - The correlation between GDP and individual standard of living is positive.

Key Takeaway: The correlation between GDP and individual standard of living is positive. In other words, the higher the market value of all goods and products that are made, the more likely that individuals are gainfully employed in making those products.
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