Q.

An individual's actual standard of living can be assessed by -

A. Gross National Income
B. Net National Income
C. Per Capita Income
D. Disposable Personal Income
Answer» C. Per Capita Income
Explanation: The standard of living is a measure of the material welfare of the inhabitants of a country. The baseline measure of the standard of living is real national output per head of population or real GDP per capita. This is the value of national output divided by the resident population. Other things being equal, a sustained increase in real GDP increases a nation's standard of living providing that output rises faster than the total population.
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