Question

Which of the following are myths about the U.S. economy? Check all that apply. The standard of living in the United States (as measured by real GDP per person) is higher now than it was 50 years ago.

Answer 1

since there is only one option stated, I looked for similar questions and found the attached one:

• Federal government jobs have grown rapidly over the past few decades. ⇒ FACT
• The standard of living in the United States (as measured by real GDP per person) is higher now than it was 50 years ago. ⇒ FACT
• Chinese imports account for less than 20% of all imports into the United States. ⇒ MYTH, the last data available from 2018 shows that Chinese imports represent 21.2% of all American imports.
• Business profits account for nearly one-third of the price Americans pay for typical goods and services. ⇒ MYTH, the average net profit margin is 7.9%, only tobacco products yield a profit margin higher than 1/3 of the price.