Change in per capita real gross domestic product (GDP) is the best measure of economic growth because:

Question

Quizplus · Accepted Answer

Per capita real GDP adjusts for changes in the price level and population growth, so it provides a more accurate measure of economic growth than nominal GDP. It takes into account the fact that changes in nominal GDP may be due to inflation rather than actual economic growth. Additionally, it measures economic growth in terms of the amount of output per person, which is important for assessing the standard of living in a country.

Change in Per Capita Real Gross Domestic Product (GDP) Is