To measure the change in the standard of living,it is best to use the growth rate

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Real GDP per person (also known as real GDP per capita) takes into account both the growth of the economy and the change in the population, making it a better measure of the change in the standard of living than just measuring real GDP or population growth alone. The Rule of 70 is a method used to estimate the amount of time it takes for an economic variable (such as real GDP) to double, but it does not necessarily reflect changes in the standard of living. The growth rate of the price level (measured by inflation) is important to consider when analyzing the overall health of the economy, but it does not necessarily reflect changes in the standard of living.

To Measure the Change in the Standard of Living,it Is