Which of the following is often used to measure the standard of living of people in a certain country?
A) Gross Domestic Product
B) Growth Rate
C) Gross National Product
D) Gross National Income

Question

Quizplus · Accepted Answer

Gross Domestic Product (GDP) is commonly used as the primary indicator of a country's standard of living. GDP measures the market value of all goods and services produced within a country's borders over a specific period of time. It provides an indication of the economic activity and overall prosperity of a country.

Which of the Following Is Often Used to Measure the Standard