Question

Day
of the
why economics
Terminal paper
Question No:
List
some
reasons
should not
consider
GDP an effective
measure
of the
standard
of living in
a
country?
an​

Answer 1

Answer:

GDP is Total value of final goods and services produced in the country.

GDP is just a Monetary Value.

Higher GDP Doesn't mean the standard of living of people living in that country is High

It does not indicate standard of living of the People

Human Development Index could be considered as Effective measure of Living in country as it involves Health, Education,Per capita Income As Indicators