A measure of national income used as comparison of standard of living among nations is
Answer Details
The measure of national income used as a comparison of standard of living among nations is per capita income.
Per capita income is calculated by dividing the total national income of a country by its population. It represents the average income of each person in the country. Per capita income is used to measure the standard of living of a country's population and to compare the economic well-being of different countries.
Gross domestic product (GDP) and gross national product (GNP) are also measures of national income, but they do not directly measure the standard of living. GDP measures the value of all goods and services produced within a country's borders, regardless of the nationality of the producers. GNP measures the value of all goods and services produced by a country's citizens, regardless of where they are produced.
While GDP and GNP are important measures of a country's economic activity, they do not provide a complete picture of the standard of living of its citizens. For example, a country with a high GDP or GNP may still have a high poverty rate or income inequality, which would negatively affect the standard of living.
Per capita income, on the other hand, takes into account the size of a country's population and provides a more accurate measure of the standard of living. By dividing the total national income by the population, per capita income provides an estimate of the average income of each person in the country. It is a widely used measure for comparing the economic well-being of different countries.