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JAMB Economics 2003 Question 40

Question 40

Economic Growth and Development

To compare the standard of living among nations, the most widely used economic indicator is the

  1. A.real domestic output
  2. B.real gross national income
  3. C.real per capita income
  4. D.per capita nominal income
Show the answer and explanation

Answer: C (real per capita income)

Explanation

Real income per head allows for both price changes and population size, so it best compares living standards.