Asked by
Bailey Scott
on Nov 16, 2024
Verified
Both the standard of living and the growth of real GDP per person vary widely across countries.
Standard Of Living
A level of wealth, comfort, material goods, and necessities available to a certain socioeconomic class or a geographic area.
Real GDP Per Person
Gross Domestic Product adjusted for inflation and divided by the total population; a measure of the economic output per resident.
- Identify the connection between real GDP per capita, living standards, and economic development.
Verified Answer
HA
Learning Objectives
- Identify the connection between real GDP per capita, living standards, and economic development.