Which of the following is a measure of economic growth that is most useful for comparing living standards?

Question

Quizplus · Accepted Answer

Real GDP per capita measures the total economic output of a country adjusted for inflation and divided by the population, giving an indication of the average standard of living. This makes it the most useful measure for comparing living standards across different countries or over time. Nominal GDP growth can be distorted by inflation, while simply measuring increases in real GDP does not take population growth into account. Decreases in unemployment can be a positive indicator for the labor market but do not necessarily reflect overall economic growth or living standards.

Which of the Following Is a Measure of Economic Growth