Econ

posted by .

Do people living in countries with higher real GDP necessarily have better living standards compared to countries with relatively lower GDP? Give practical example.

2. What measures would better compare the well-being (living standard) for residents of different countries? How do you expect these other measures to correlate with the per capita GDP?

3. GDP only measures the value of marketed goods and services. Give examples of important services the GDP fails to measure.

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. Economics

    Why is it that the people responsible for pensions use the CPI as an indicator for inflation rather than the GDP deflator?
  2. Economics

    The task of my assignment was to calculate the Nominal GDP, given the GDP deflator and the Real GDP. This is what I got. GDP Deflator Real GDP Nominal GDP 0.9 600 540 1.0 600 600 1.1 600 660 The second part of the question asks what …
  3. macroeconomics

    Year - 2000 Nominal GDP: 9,817 Real GDP: ___________ GDP Deflator: 1 Inflation 2.2 Real GDP Per capita: _________ Population 283.7 Year – 2001 Nominal GDP: ________ Real GDP: 9,891 GDP Deflator: _________ Inflation 2.4 Real GDP Per …
  4. Econ

    How can you compare standards of living across countries?
  5. Macroeconomics* Please check my answers*

    If real GDP per capita grows at a rate of 5% per year consistently over time, how many years would it take for it to double in size?
  6. Global Issues (ms.sue)

    It is a known fact that all though there are some countries in the world that are abundant in wealth and possessions, there are also other countries at different parts of the world which are developing countries and are deprived of …
  7. socials

    i find this online this question and i want to see if i answer right. why is per capita GDP often criticized as an ineffective means of comparing standards of living between countries?
  8. marcoenomics

    Assume Country X has much larger real GDP than county Y. Despite its low real GDP figure, is it possible for the standard of living, as measured by GDP per capita, in Country Y to be better than the standard of living in Country X?
  9. Geography

    What can we infer about a country based on its GDP?
  10. Economic part 2

    Two countries shown in the chart ranked higher in overall development than the United States did. The United States had a higher per capita GDP than these countries. What factors accounted for the higher rankings of these countries?

More Similar Questions