To determine living standards for the average person,we calculate
A) GDP.
B) per capita GDP.
C) the average level of prices in the country.
D) the length of time the average person is unemployed.
E) the growth rate of GDP.

Question

Quizplus · Accepted Answer

Per capita GDP measures the GDP of a country divided by its population, giving an estimate of the average income of each person in the country. This is commonly used as an indicator of a country's living standards. GDP alone does not give an accurate representation of living standards, as it does not account for population size. The other choices listed do not directly measure living standards.

To Determine Living Standards for the Average Person,we Calculate