If one wants to know how the material well-being of the average person has changed over time in a given country, which of the following should one look at?
A)the level of real GDP
B)the growth rate of nominal GDP
C)the growth rate of real GDP
D)the growth rate of real GDP per person

Question

Quizplus · Accepted Answer

Real GDP per person takes into account both the growth of the economy and the population, which gives a more accurate measure of the material well-being of the average person than just looking at the level or growth rate of GDP alone.

If One Wants to Know How the Material Well-Being of the Average