When economic growth is compared between countries, the best measure to use is
A) nominal GDP.
B) real GDP.
C) chain-weighted GDP.
D) real GDP per capita.

Question

Quizplus · Accepted Answer

Real GDP per capita takes into account the population of a country and provides a more accurate measure of economic growth and standard of living. Nominal GDP can be misleading as it does not account for inflation, while real GDP and chain-weighted GDP can be affected by changes in prices and do not reflect changes in population.

When Economic Growth Is Compared Between Countries, the Best Measure