In growth theory,the change in a country's standard of living is measured by the change in

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Real GDP per person (or per capita) takes into account both economic growth and changes in population. It is therefore a more accurate measure of a country's standard of living than real GDP, which only reflects changes in the total output of goods and services. Changes in the nation's capital stock, wages per person, and employment can all be important drivers of economic growth, but they do not directly measure changes in the standard of living.

In Growth Theory,the Change in a Country's Standard of Living