Question

hi, In fact am new to this subject and i would like a have a help for my homeworks. i have got a question which is, National income figures are used to measure the standard of living in a country. What are the limitations of using national income figures for the purpose of measuring the standard of living of a country?

well, was i supposed or can i include about the difficulties in measuring the national income?

Answer 1

Standard of living expressed as per capita national income does not take into account the cost of living, nor the quality and availability of public education, infrastructure and universal health care.