Which of the following is most important if the living standards of people residing in a country are going to improve?
A) growth of population
B) growth of per capita GDP
C) growth of the money supply
D) growth of government expenditures as a share of GDP

Question

Quizplus · Accepted Answer

The growth of per capita GDP, which is the measure of the average economic output per person in a country, is the most important factor in improving living standards. A higher per capita GDP means that people have more income to spend on necessities like food, housing, and healthcare. It also often correlates with improvements in infrastructure, education, and other important indicators of development that can further improve quality of life. Growth in population, money supply, and government expenditures are not necessarily linked to improvements in living standards and can even have negative impacts if not managed properly.

Which of the Following Is Most Important If the Living