Which of the following best explains the standard of living?
O
A. The rate of inflation for prices of normal goods.
O B. The set of rules for homeownership.
O
C. A measurement of tax levels.
O
D. How much an average person can afford to buy.

The best explains the standard of living is how much an average person can afford to buy. It refers to the quality and quantity of goods and services available for the population.

What is the measurement of the standard of living?

Standard of living is the level of income, services, comforts, and necessities available to a certain social-economic group or geographic location.

It is measured using Gross Domestic Product (GPD) per capita, level of education, availability of health facilities.

Therefore the correct option is D.

Learn more about the standard of living here:

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Which of the following best explains the standard of living? O A. The rate of inflation for prices of normal goods. O B. The set of rules for homeownership. O C. A measurement of tax levels. O D. How much an average person can afford to buy.

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What is the measurement of the standard of living?

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Which of the following best explains the standard of living?
O
A. The rate of inflation for prices of normal goods.
O B. The set of rules for homeownership.
O
C. A measurement of tax levels.
O
D. How much an average person can afford to buy.