In the long run,changes in average material living standards are best shown by

Question

Quizplus · Accepted Answer

Real per capita GDP, which is the real GDP divided by the population, gives a measure of the average material living standards of individuals. It takes into account both economic growth and changes in population. Therefore, growth in real per capita GDP is the best measure to show changes in average material living standards over time. Options A, B, D, and E are not relevant as they do not directly measure the average material living standards of individuals.

In the Long Run,changes in Average Material Living Standards Are