How does "increases in per capita GDP automatically lead to a higher standard of living for...

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How does "increases in per capita GDP automatically lead to a higher standard of living for...

How does "increases in per capita GDP automatically lead to a higher standard of living for U.S. citizens."?

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Answer 1

Answer #1

Per capita GDP reflects the average income of Americans. When the per capita GDP increases, the average income of the citizens increases. So, an average citizen would be able to buy more goods and services to improve material well being.

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Answer 2

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