If real GDP per capita has increased, the standard of living in the country has improved.

Question

Quizplus · Accepted Answer

Real GDP per capita is a measure of economic output per person adjusted for inflation. An increase in real GDP per capita indicates that the economy is producing more goods and services per person than in the past, which typically results in an improvement in the standard of living for that country's residents, including access to more goods and services, higher wages and salaries, and generally a higher standard of living.

If Real GDP Per Capita Has Increased, the Standard of Living