Question

And how do we compare economic well-being

across countries?​

Answer 1

Answer:

measures are, however, infrequently available for any one country and difficult to compare across countries. We, therefore, proceed by standardizing for hours

Answer 2

Answer:

• One way to compare different countries' GDPs is with an exchange rate, the price of one country's currency in terms of another. GDP per capita is GDP divided by population.
• As you have learnt, wellbeing varies a great deal within and between countries. The factors behind these variations are complex but can be broken up into five main groups: environmental, social, economic, historic and political. ... Social, economic, historic and political factors are all examples of human factors

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