Multiple choice

Change in the _______is the best indicator of the change in the standard of the living of the people of a country?

  1. cost of the living index

  2. per capita income

  3. retail price

  4. GDP

  5. None of these
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Per capita income (average income per person) is the most direct indicator of changes in living standards. While GDP measures total economic output, it doesn't account for population growth or distribution. Per capita income reflects what the average person can afford, making it the best standard of living indicator.

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