HISTORY
THE COLD WAR ERA
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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standard of living
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inflation
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satellite
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containment
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Detailed explanation-1: -According to our extension of the Jones-Klenow analysis, U.S. economic welfare has increased at about 2.3 percent per year since 1995, for a cumulative gain in two decades of 60 percent. Gains in income and consumption per capita and in life expectancy are the major reasons for improved welfare.
Detailed explanation-2: -In Q4 2022, the real gross domestic product per capita was $78, 347. Gross domestic product (GDP) per capita is a commonly used measure for the standard of living.
Detailed explanation-3: -The standard of living is measured by things that are easily quantified, such as income, employment opportunities, cost of goods and services, and poverty. Factors such as life expectancy, the inflation rate, or the number of paid vacation days people receive each year are also included.