In terms of economic growth,the key measure of the standard of living is

Question

Quizplus · Accepted Answer

Real GDP per capita is the best measure to determine the standard of living as it takes into account the size of the population and adjusts for inflation, providing a more accurate representation of the economy's output per person. Nominal GDP does not account for inflation, while GDP per capita is a better reflection of the individual's economic well-being than the overall GDP.

In Terms of Economic Growth,the Key Measure of the Standard