Which of the following statements best explains the importance of real GDP per person?
A)It is a useful measure of economic growth.
B)It is a useful measure of a country's wealth.
C)It is a useful measure of the cost of living.
D)It is a useful measure of well-being.

Question

Quizplus · Accepted Answer

Real GDP per person is a useful measure of well-being because it represents how much each person in the country produces on average, which in turn can affect their standard of living. Higher real GDP per person can indicate a higher level of economic development and more resources available for education, healthcare, and other social programs, which can contribute to a better quality of life for citizens.

Which of the Following Statements Best Explains the Importance of Real