Economic progress is best measured by
A)the growth rate of prices over time.
B)the growth rate of GDP per capita
C)the amount of time it takes a worker to work to afford certain goods and services.
D)the growth rate in the population.

Question

Economic progress is best measured by
A)the growth rate of prices over time.
B)the growth rate of GDP per capita 
C)the amount of time it takes a worker to work to afford certain goods and services.
D)the growth rate in the population.

Quizplus · Accepted Answer

GDP per capita, or the total output (GDP) divided by the population, is a good measure of a country's economic progress as it indicates the average standard of living and economic growth of individuals in that country. The growth rate of prices (inflation) and growth rate of population do not necessarily reflect economic progress, and the amount of time it takes a worker to work to afford goods and services may vary greatly depending on individual incomes and the cost of living in different areas.

Economic Progress Is Best Measured by