how is it connected to living standards?
GDP per capita is often used as an indicator of living standards.
Gross domestic product
GDP per capita is often used as an indicator of living standards.

what is mackensen-class battlecruiser? Last class of battlecruisers built during WW1 what was the ww1? A global war originating in Europe. name a few parties involved. UNANSWERABLE how did it affect the economy? GDP increased for three Allies but decreased in France and Russia, in neutral Netherlands, and in the three main Central Powers. what is full form of that abbreviation ? Gross domestic product what does it represent? Monetary measure of the M.P. of all the final goods and services produced in a specific time period. can you mention its one limittion? Measurements of national income result in abuse since they deal with matters that are the center of conflict of opposing social groups.
wiki:7700483
Gross domestic product [SEP] Standard of living and GDP: wealth distribution and externalities
GDP per capita is often used as an indicator of living standards. The major advantage of GDP per capita as an indicator of standard of living is that it is measured frequently, widely, and consistently. It is measured frequently in that most countries provide information on GDP on a quarterly basis, allowing trends to be seen quickly. It is measured widely in that some measure of GDP is available for almost every country in the world, allowing inter-country comparisons. It is measured consistently in that the technical definition of GDP is relatively consistent among countries. GDP does not include several factors that influence the standard of living.