Answer :
The best measures improvements in the standard of living of a nation is growth of real GDP per capita.
What is GDP per capita?
GDP per capita is the sum of gross value in addition by all resident producers in the economy plus any product taxes (less subsidies) not included in the valuation of output, divided by mid-year population. Growth is calculated from constant price GDP data in local currency.
Higher GDP per capita is usually associated with positive outcomes in a wide range of areas such as better health, more education, and even greater life satisfaction. A high GDP per capita often correlates with a high standard of living, even though GDP per capita is highly sensitive to variations in population size.
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