Of the following, which is the best indicator of an economy's standard of living?
A) real GNP.
B) real GNP per capita.
C) nominal GNP per capita.
D) nominal GNP.

Question

Quizplus · Accepted Answer

Real GNP per capita is the best indicator among the options because it accounts for both the total economic output adjusted for inflation (real GNP) and the population size. This provides a more accurate reflection of the average wealth and economic well-being of individuals in the economy.

Of the Following, Which Is the Best Indicator of an Economy's