The Human Development Index was proposed because
A) people confuse nominal GDP and real GDP.
B) nominal GDP and real GDP are subjective measures.
C) of the limitations of real GDP as a measure comparing the standard of living in different nations.
D) the GDP deflator changes if the base year is changed.
E) different nations have different populations.
Question 2
If technological advances lower the cost of computer chips, in the market for computers the equilibrium price will ________ and the equilibrium quantity will ________.
A) fall; increase
B) fall; decrease
C) rise; increase
D) rise; decrease
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