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Which of the following nations has the highest average level of material well-being?

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"Personal consumption" is a comprehensive measure of the goods and services consumed by households. It is the World Bank's "preferred" indicator of material well-being due to "practical reasons of reliability and because consumption is thought to better capture long-run welfare levels than current income." The latest available data show that the United States has the highest average consumption per person of all nations in the world. These data are adjusted for purchasing power to measure tangible realities like square feet of living area, healthcare services, smartphones, etc. Thus, an apple, a gallon of gas, or an MRI in each nation are counted the same as in all the others.

DocumentationInternational Consumption






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