The most meaningful measure of economic growth is
A)the employment rate.
B)the unemployment rate.
C)real GDP.
D)real GDP per capita.

Question

The most meaningful measure of economic growth is
A)​the employment rate.
B)​the unemployment rate.
C)​real GDP.
D)​real GDP per capita.

Quizplus · Accepted Answer

Real GDP per capita is the most meaningful measure of economic growth as it takes into account both the size of the economy (real GDP) and the size of the population (per capita), giving a more accurate picture of the standard of living in a country. The employment and unemployment rates are important indicators of the labor market, but they do not necessarily reflect overall economic growth. Real GDP alone does not account for changes in population size, while real GDP per capita does.

The Most Meaningful Measure of Economic Growth Is