One common measure of the standard of living in a nation isA) real income per capita.B) unemployment rate.C) real GDP.D) population size.

Question

Avishek Adhikari · Accepted Answer

Final Answer : A, Explanation :  Real income per capita is a measure of the average income per person in a country, adjusted for inflation. This measure provides an indication of the purchasing power and economic well-being of the population. It takes into account the level of economic growth, inflation and changes in the cost of living, and reflects the resources available to individuals to meet their needs and wants. Unemployment rate, real GDP, and population size are important economic indicators, but they do not provide a comprehensive measure of the standard of living.

One common measure of the "standard of living" in a nation is

A) real income per capita.
B) unemployment rate.
C) real GDP.
D) population size.

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Learning Objectives

Learning Objectives

Related questions

One common measure of the "standard of living" in a nation isA) real income per capita.B) unemployment rate.C) real GDP.D) population size.

Definitions

Learning Objectives

Learning Objectives

Related questions

One common measure of the "standard of living" in a nation is

A) real income per capita.
B) unemployment rate.
C) real GDP.
D) population size.