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Economists measure a nation's standard of living:
by calculating GDP per person
by calculating per capita income (the best indicator)
by calculating average personal income.
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What does a standard of living measure?
A standard of living measure is the economic position of the individual.
How can automobiles be used to measure a country's standard of living?
No we cannot measure the living standard of any country through the use of automobiles.
The standard of living is a measure of?
Overall quality of life
Explain why economists argue that productivity is important?
The higher the productivity , the higher the living standard of the country. It also contributes in growth in output and income of the country.
Why do some nations adopt command economies during war?
to increase the standard of living
Do economists measure a nation's standard of living?
Economists measure a nation's standard of living: by calculating GDP per person by calculating per capita income (the best indicator) by calculating average personal income.
What does a standard of living measure?
A standard of living measure is the economic position of the individual.
What is the standard of living in Morocco?
Morocco has a moderate standard of living compared to Western countries. The cost of living is relatively low, but income disparities exist between urban and rural areas. Access to healthcare, education, and infrastructure can vary depending on location.
How can automobiles be used to measure a country's standard of living?
No we cannot measure the living standard of any country through the use of automobiles.
Nations standard of living determined by productivity?
A nation's standard of living is closely linked to its productivity levels. Higher productivity means more output can be produced with the same resources, leading to increased income and wealth for individuals. This can result in better living standards, including more goods and services, higher wages, and overall economic prosperity.
The standard of living is a measure of?
Overall quality of life
To improve its standard of living a nations economy must?
Remain stable
What is the basic measure of developing countries?
A low standard of living.
Explain why economists argue that productivity is important?
The higher the productivity , the higher the living standard of the country. It also contributes in growth in output and income of the country.
Does Slovenia have a lower standard of living than the other Balkan nations?
No, it's higher.No!
Why do some nations adopt command economies during war?
to increase the standard of living
Why do most nations in Western Europe have a higher standard of living?
it started the Industrial Revolution.
