Exchange Rate: The rate at which one currency can be exchanged for another, affecting the value of goods and services when comparing different countries.
Standard of Living: A measure of the quality and comfort of life experienced by individuals or groups within a certain geographic area, often influenced by factors such as income, education, healthcare, and access to basic necessities.
Economic Productivity: The measure of how efficiently resources are utilized in creating goods and services within an economy. Higher productivity generally leads to higher levels of output and economic growth.