Which of the following best measures improvements in the standard of living of a nation?
A) growth of nominal GDP
B) growth of real GDP
C) growth of real GDP per capita
D) growth of national income

Question

Quizplus · Accepted Answer

Real GDP per capita takes into account both economic growth and population growth, and therefore is a more accurate measure of improvements in the standard of living of a nation compared to nominal GDP, real GDP, and national income.

Which of the Following Best Measures Improvements in the Standard