What measure of economic development is used most often to classify nations as industrially advanced or as developing?

Question

Quizplus · Accepted Answer

Per capita income is the most commonly used measure of economic development as it reflects a nation's production, distribution, and consumption of goods and services. It is easy to measure and compare across countries and is a good indicator of a nation's standard of living. Life expectancy at birth, per capita energy consumption, and daily per capita calorie supply are all important indicators of development, but are not as commonly used as per capita income.

What Measure of Economic Development Is Used Most Often to Classify