on a historical basis
because they need it for buildings and new schools and hospitals
the amount of a good that is bought
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.
it is easier for economists to measure "cost" than "opportunity cost"(because people's tastes are different and changeable)
on a historical basis
because they need it for buildings and new schools and hospitals
the amount of a good that is bought
price indicator
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.
it is easier for economists to measure "cost" than "opportunity cost"(because people's tastes are different and changeable)
the number of telephones it has in relation to its population.
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.
Population
Per Capita GDP
i believe its balance of trade
The concept of utility is a measure of consumer satisfaction.