Which of the Following Is the Best Measure of the Standard

question 56

Multiple Choice

Which of the following is the best measure of the standard of living?

• A)Nominal GDP for the whole economy.
• B)Real GDP for the whole economy.
• C)Nominal GDP per capita.
• D)Real GDP per capita.

---

Definitions:

Organisation-Wide Commitment

A collective dedication across all levels of an organization to achieve shared goals or missions, often requiring unified effort and collaboration.

Continuous Improvement

Involves always searching for new ways to improve operations quality and performance.

Quality Control

Checks processes, materials, products and services to ensure that they meet high standards.

High Standards

The requirement or expectation for excellence and superior performance in a particular activity or field.