What do you mean by standard of living, Business Economics

Assignment Help:

What do you mean by standard of living?

Standard of living (SoL):

It is incomer per capita (head) and it is determined by national income (GDP) divided through total population:

• It is significant to use real GDP to make sure NY is adjusted for inflation

• Cet par an increase within real GDP that is economic growth raises SoL

• NB: SoL is an average and provides no indication of the distribution of income. What when only the ruling elite enjoy the advantages of growth due to a highly unequal distribution of income.


Related Discussions:- What do you mean by standard of living

Global finance crisis, Australia has emerged from the Global Finance Crisis...

Australia has emerged from the Global Finance Crisis (GFC) as "the strongest economy in the developed world" (Editorial, The Australian, 11 December 2009). The economic editor of T

Controlling the supply of money, This is concerned with any one of the foll...

This is concerned with any one of the following forms. controlling the supply of money controlling interest rates Rationing the amount of credit granted by banks

What do you mean by the term earned value analyses, What do you mean by the...

What do you mean by the term earned value analyses?  What are additional insights into the dynamics of a project afforded via the use of EVA? Earned value implies, in effect, t

Variable input, What is the rational for the optimal use of a variable inpu...

What is the rational for the optimal use of a variable input?

Code 202, A businessman invested $ 4000.00 as his fixed cost in a new ventu...

A businessman invested $ 4000.00 as his fixed cost in a new venture that produces batteries. Each of these batteries cost $150.00 to manufacture and he sells each battery for $180.

Arbitrage pricing theory, Question: (a) Assume that a market is in equi...

Question: (a) Assume that a market is in equilibrium and all investors agree that the return on any diversified portfolio P is equal to R P = a p + b p 1 F 1 + bp 2 F 2

What is meant by the term the triple constraint, What is meant by the term ...

What is meant by the term the triple constraint? What are the three elements of the triple constraint and why is an understanding of their relative weight significant in exercising

What are the assumptions of unbalanced growth, What are the assumptions of ...

What are the assumptions of unbalanced growth? Development cannot be initiated through one industry. Government recognize strategically significant areas to planned economy or

Why are state approaches considered as unsuitable, Why are state approaches...

Why are state approaches occasionally considered as unsuitable for promoting development? Liberal economists’ argument government intervention really thwarts development. G

What are the predictions of balanced growth, What are the predictions of ba...

What are the predictions of balanced growth? When government can co-ordinate immediate investment in several industries one firm gives a market for another. It needs state pla

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd