The yardstick most often used to compare living standards across nations is _____
A) the average production cost per unit.
B) the sales revenue per month for all the firms in an economy.
C) the utility per capita.
D) the output per capita.
E) the volume of imports per year.

Question

Quizplus · Accepted Answer

The most commonly used measure to compare living standards across nations is the output per capita or GDP per capita, which represents the total value of goods and services produced by a country divided by the total population. This measure takes into account the size of the economy and the population, providing a more accurate assessment of the standard of living than other measures such as production cost or revenue per month.

The Yardstick Most Often Used to Compare Living Standards Across