A nation records a very high Gross Domestic Product and has a small population, yet its standard of living is low. What could be the reason for this low standard of living?
- AThere is a high inequality of income distribution and a high provision of merit goods.
- BThere is a high inequality of income distribution and a limited provision of merit goods.
- CThere is equality of income distribution and a high provision of merit goods.
- DThere is equality of income distribution and a low provision of merit goods.