How could a nation have a large gross domestic product and yet a very low standard of living?
A Its imports are low.
B Its workforce is productive.
C Its population is large.
D It does not produce many final products.
I believe it is C? May I get some help, thank you!
To determine how a nation could have a large gross domestic product (GDP) but a very low standard of living, let's examine the options:
A) If a nation's imports are low, it means it relies heavily on domestic production for its goods and services. This can contribute to a higher GDP, but it doesn't necessarily indicate a low standard of living.
B) If a nation's workforce is productive, it means they can produce a significant amount of goods and services in a given time. This can also lead to a higher GDP. However, it doesn't necessarily mean that the benefits of the productivity are distributed evenly throughout the population, so it doesn't directly imply a low standard of living.
C) If a nation's population is large, it may have a larger workforce and potentially access to a bigger consumer market. While a large population could potentially contribute to a high GDP, it doesn't directly indicate a low standard of living.
D) If a nation does not produce many final products, it may rely on importing goods and services, which can limit its GDP. However, this alone also doesn't indicate a low standard of living since access to imported goods can still provide a decent standard of living.
Out of the provided options, none clearly explain how a nation with a high GDP could have a low standard of living. However, it's important to note that factors like income inequality, inadequate distribution of wealth, high levels of corruption, inefficient social policies, or excessive debt can contribute to a low standard of living despite a high GDP.
Therefore, none of the options alone can fully explain the scenario described. It may require considering other factors beyond the given options to understand why a nation's standard of living is low despite a high GDP.