Economic growth, which can be estimated by the growth of GDP, ultimately determines the prevailing standard of living in a country.
Hence the correct option is D.
Economic growth is the rise or improvement in the market value of the products and services generated by an economy over a predetermined period of time, adjusted for inflation. Traditionally, statisticians have calculated growth as a percentage rate of real gross domestic product, or real GDP.
The level of economic development eventually defines the country's overall standard of living. The percentage change in real (inflation-adjusted) gross domestic product is how economists gauge growth. A good growth rate is one that exceeds 3%.
The complete question is :
_______________, which can be approximated by the growth of gross domestic product, ultimately determines the prevailing standard of living in a country.
A.) Trade balance
B.) Inflation
C.) Education
D.) Economic growth
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