indicator used to show the living standard of people in a country is
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Real GDP Per Head as an Indicator of Living Standards:
An increase in real GDP per head would suggest that living standards have risen, but it may not necessarily indicate the real situation for a number of reasons. One is that real GDP is an average. Not everyone may benefit from a rise in the average income level. The extra income may be unevenly spread with a few receiving much higher income and some not receiving any extra income.
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An increase in real GDP per head would suggest that living standards have risen, but it may not necessarily indicate the real situation for a number of reasons. One is that real GDP is an average. Not everyone may benefit from a rise in the average income level. The extra income may be unevenly spread with a few receiving much higher income and some not receiving any extra income.
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