Which of the following would be the best measure of changes in the standard of living in an economy, expressed in a time series? Nominal GDP per capita, Real GDP, Output per labour hour of output, Real GDP per capita
معیشت میں معیارِ زندگی کی تبدیلی کو وقت کے ساتھ ماپنے کے لیے بہترین پیمانہ کون سا ہے؟
- Nominal GDP per capita
- Real GDP
- Output per labour hour of output
- Real GDP per capita
Explanation
- The standard of living refers to how well people live in an economy over time.
- The best measure should reflect both income and population changes.
- Therefore, real GDP per capita is the most accurate indicator.
- It adjusts for inflation and shows output per person.
Last verified on 23-04-2026
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