Which measurement is most useful for comparing the standard of living in different countries?
A)GDP per worker.
B)The growth rate of the labor force.
C)The growth rate of real GDP.
D)GDP per capita.

Question

Quizplus · Accepted Answer

GDP per capita provides a measure of the average income and expenditure per person in a country. It is the most commonly used indicator for comparing the standard of living in different countries as it takes into account the size of the population. GDP per worker (A) does not take into account labor force participation rates and may not accurately reflect the standard of living for the entire population. The growth rate of the labor force (B) and the growth rate of real GDP (C) may provide insight into changes in the economy over time but do not provide a direct measure of the standard of living in a country.

Which Measurement Is Most Useful for Comparing the Standard of Living