Nominal GDP per person is the best measure of a country's material standard of living.

Question

Quizplus · Accepted Answer

Nominal GDP per person is not the best measure of a country's material standard of living as it does not take into account factors such as income distribution, cost of living, and quality of life indicators such as education, healthcare, and environmental sustainability. Other measures such as Human Development Index (HDI) and Gross National Happiness (GNH) provide a more comprehensive and accurate assessment of a country's standard of living.

Nominal GDP Per Person Is the Best Measure of a Country's