What is one of the factors used to gauge the standard of living in a nation?
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 i.e. Per capita income.
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Per capita income serves as a criterion for assessing the standard of living in a country.
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The standard of living pertains to the overall level of income, amenities, and services accessible within a society or region, rather than at an individual level.