The best index for international comparison of standards of living is the?
Answer Details
The best index for international comparison of standards of living is the per capita income. Per capita income refers to the average income earned by each individual in a particular country, which takes into account both the economic growth and population of the country. It is a widely used measure to compare living standards across different countries, as it gives an idea of how much income an average individual has in a particular country. Other measures like gross national product and net national income do not give a clear picture of how the income is distributed among the population, hence, per capita income is considered as a better index for international comparison of standards of living.