Which of the following could be considered to be the best measure of an improvement in living standards?

Question

Quizplus · Accepted Answer

The best measure of an improvement in living standards is an increase in real per capita GDP, which takes into account population growth and inflation. An increase in nominal GDP can be misleading because it includes the effects of inflation. An increase in gross investment and government purchases may indicate economic growth, but not necessarily an improvement in living standards. An increase in real GDP is also a good measure of economic growth, but it does not account for population growth.

Which of the Following Could Be Considered to Be the Best