Which of the following best measures improvements in the standard of living of a nation?

Question

BlackTom AI · Accepted Answer

When evaluating which metric best captures improvements in a nation's standard of living, we must consider what each measure actually reflects.
Option 1: 'growth of nominal GDP' measures the overall value of goods and services at current prices. It can rise simply due to inflation or price level changes rather than genuine improvements in living standards, and it ignores population size.
Option 2: 'growth of real GDP' adjusts for inflation and shows how total output changes in real terms, but it still aggregates across the whole population without accounting for how many people share that output. A growing real GDP can occur with a growing number of people and may mask stagnant or falling living standards for individuals.
Option 3: 'growth of real GDP per capita' combines real growth with population size, effectively showing how much output each person would have on average after removing price effects. This measure best reflects changes in average living standards because it accounts for price stability and how resources are distributed per person.
Option 4: 'growth of national income' is a broad term that can be interpreted in various ways and often lacks the standardized adjustment for inflation and population. It does not unambiguously indicate changes in per-person living standards.
Therefore, among the given choices, growth of real GDP per capita is the most appropriate indicator for improvements in the standard of living, as it adjusts for both inflation and population and reflects the average economic well-being of individuals.

Which of the following best measures improvements in the standard of living of a nation?

查看解析

登录即可查看完整答案

类似问题

Calculate the real GDP per capita of New Amsterdam based on the following information Real GDP : US$100 million Population size : 1 million Labour force: 7.5 million

Country X has a population of 100 million and a GDP of $500 billion in 2017. Country Y has a population of 40 million and a GDP of $400 billion in 2017. Which economic measure would be most appropriate to make a comparison of the relative economic prosperity of each country?

Country X has a population of 100 million and a GDP of $500 billion in 2017. Country Y has a population of 40 million and a GDP of $400 billion in 2017. Which economic measure would be most appropriate to make a comparison of the relative economic prosperity of each country?

Country X has a population of 100 million and a GDP of $500 billion in 2017. Country Y has a population of 40 million and a GDP of $400 billion in 2017. Which economic measure would be most appropriate to make a comparison of the relative economic prosperity of each country?

Country X has a population of 100 million and a GDP of $500 billion in 2017. Country Y has a population of 40 million and a GDP of $400 billion in 2017. Which economic measure would be most appropriate to make a comparison of the relative economic prosperity of each country?

Country X has a population of 100 million and a GDP of $500 billion in 2017. Country Y has a population of 40 million and a GDP of $400 billion in 2017. Which economic measure would be most appropriate to make a comparison of the relative economic prosperity of each country?

Countries A and B have the same number of people. They also have the same unemployment rates. However, the labor force participation rate and the productivity in country B are higher than in country A. Choose the correct statement.

更多留学生实用工具

考试浏览器助手

风格化写作助手

论文查重助手

文献引用助手

课堂转译助手

课堂笔记助手

Quiz搜索助手

学校历年真题

智能刷题助手

智能匹配练习

希望你的学习变得更简单