The best measure of the economic satisfaction of the members of a society is:
A) nominal GDP.
B) real GDP.
C) the rate of inflation.
D) the value of corporate profits.

Question

Quizplus · Accepted Answer

Real GDP is a more accurate measure of economic satisfaction as it takes into account inflation and reflects changes in the quantity of goods and services produced per capita. Nominal GDP only reflects changes in the overall value of goods and services produced and can be affected by changes in prices. The rate of inflation and the value of corporate profits are important indicators of the economy, but do not necessarily reflect the satisfaction or well-being of individuals within a society.

The Best Measure of the Economic Satisfaction of the Members