Which of the Following Is the Best Measure of a Nation's
Which of the following is the best measure of a nation's standard of living?
A) nominal GDP
B) market GDP
C) real GDP per capita
D) nominal GDP per capita
Real GDP per capita measures
A) GDP less depreciation.
B) the average income of households.
C) the annual wages of laborers minus income tax.
D) average output per person.
Which of the following is the best measure for comparing the standard of living across countries?
B) gross national product
C) real gross national product
D) real gross national product per person
GDP is the total market value of all final goods and services produced within an economy during a year.