The term ___________refers to material well-being that can be measured by the quality of goods and services that may be purchased by the per capita national income.
A) standard of living
B) absolute poverty
C) relative standard
D) gross national income (GNI)

Question

Quizplus · Accepted Answer

Standard of living refers to material well-being, and it is measured by the quality of goods and services that can be purchased by per capita national income. Absolute poverty is a condition where individuals or households cannot meet their basic needs for survival. Relative standard refers to the comparison of one's standard of living with others in the same society. GNI is a measure of the total income of a country's residents regardless of where they are located.

The Term ___________Refers to Material Well-Being That Can Be Measured