
Comparing per capita real

Explanation of Solution
The per capita real economic growth is accounted by dividing the real
Thus, the per capita real economic growth is more efficient measure than absolute real economic growth in terms of measuring the standard of living.
Per capita real economic growth: Per capita real economic growth is accounted by dividing the real gross domestic product (GDP) with total population.
Absolute real per capita: Absolute real per capita is a
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