Answer:
long-run rate of economic growth
Explanation:
Economic growth is defined as the increase in the GDP of a country over a period of time.
standard of living is measured by the real GDP per capita
Real GDP per capita = real GDP / total population . The higher the real GDP per capita the higher the standard of living
Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year
Real GDP has been adjusted for inflation.
