A common measure of the standard of living is
A) labour productivity.
B) the average duration of a typical business cycle.
C) the labour force participation rate.
D) real GDP per capita.

Question

Quizplus · Accepted Answer

Real GDP per capita is a common measure used to determine the standard of living. It reflects the level of economic output per person and is adjusted for inflation, providing a better representation of economic well-being over time. Other indicators such as labour productivity, business cycles, and labour force participation rates can also provide valuable information, but may not capture the full picture of a country's standard of living.

A Common Measure of the Standard of Living Is