This is probably the most important question that most of us have to answer in economics, which is why it is often the most misunderstood part of economics.

The two most common ways economists measure GDP are through the Gross Domestic Product (GDP) and the Inequality-Adjusted GDP (SIAGDP). Both calculations have different ways of measuring each piece of the entire GDP, so both GDPs are only slightly different. When you combine the two, you get the “Gross Domestic Product”.

The Inequality-Adjusted GDP SIAGDP is the sum of the Inequality-adjusted GDP SIAGDP. This is the sum of the three different measures that you can measure, in that the Inequality-adjusted GDP SIAGDP is the sum of the Inequality-adjusted GDP SIAGDP minus the Inequality-adjusted GDP SIAGDP.

The difference is what you use to determine your standard of living. The first one is GDP. The second, is Inequality-adjusted GDP. So the GDP you use when you are calculating the SIAGDP is the GDP you use when you are calculating the Inequality-adjusted GDP.