Australia has invested in capital goods, so their standard of living and GDP increasing true or false

Question

Biology

Rachel Clark

5 November, 03:36

Australia has invested in capital goods, so their standard of living and GDP increasing true or false

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Answers (1)

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Kristina Dyer · Answer 1

Australia has invested in capital goods, so their standard of living and GDP increasing is true.

Explanation:

Capital goods are goods or objects that is used to produce other good or objects. Examples are buildings, furniture etc., GDP measures the economic activity of the country. Investing in these goods has led to the "average household net-adjusted disposable income per capita as USD 32,759 a year", this increased the standard of living and resulted Australia as 'one of the highest' in the world.