How does the per capita GDP relate to the other quality of life indicators? *
Answers
Answer:
The standard of living is derived from per capita GDP, determined by dividingGDP by the number of people living in the country. ... Generally, rising global incometranslates to a higher standard of living, while diminishing global income causes the standard of living to decline.
Explanation:
The generally accepted measure of the standard of living is GDP per capita. ... The GDP is the total output of goods and services produced in a year by everyone within the country's borders. RealGDP per capita removes the effects of inflation or price increases.
In what way does GDP not give an accurate representation of standard of living? GDP does not account for how people distribute their time between work and leisure. GDP doesn\'t account for changes in environmental quality.
The standard of living includes factor as a whole quality and availability of employment, class disparity, poverty rate, quality and housing affordability, hours of work are required to purchase necessities, gross domestic product, inflation rate, amount of leisure time every year, affordable (or free) access to ...
GDP is a flawed measure of human welfare' GDPhas always been a measure of output, not ofwelfare. Using current prices, it measures the value of goods and services produced for final consumption, private and public, present and future. (Future consumption is covered since GDPincludes output of investment goods.
The U.S. government collects and compiles economic data through the Bureau of Labor Statistics, or BLS. Once the data is organized, it is used by the Bureau of Economic Analysis, or BEA, which is part of the Department of Commerce, to estimate the GDP and the national income.
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Answer:
Explanation:
Hey there fellow human being
It determines the earning of an average individual, and based on it we can tell how the person lives and what is his quality of life.. But it is not always a good indicator as at times all the capital is concentrated in the hands of a particular sector.. So even if the per capita income of the country is high, it doesn't mean that all the citizens have a high income
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P.S this is English and the question you asked is economics... better modify it before brainly pulls the question down