The best measure of a country's standard of living is
A)GDP per labour hour.
B)GDP per unit of capital.
C)GDP per capita.
D)total nominal GDP.
E)the employment population ratio.

Question

Quizplus · Accepted Answer

GDP per capita provides a measure of a country's economic output that accounts for the size of its population, giving an idea of the average economic prosperity of its citizens. It takes into consideration the total economic output (GDP) and divides it by the number of people in the country, giving a more accurate representation of a country's standard of living.

The Best Measure of a Country's Standard of Living Is