Gdp Is Not a Poor Measure of Standard of Living
Comparison of GDP among country and living standard
GDP per person is measured frequently that most countries provide information on GDP allowing comparing with other countries. It is measured on a consistent basis that the technical definition of GDP is relatively consistent among countries. When compared to other countries with GDP per capita, GDP per capita as well as abroad is almost always higher, therefore, rich countries and the poor have very different rate of GDP per person. If large GDP leads to a higher standard of living, then the GDP will have to comply with very closely related to various measures if the quality of life this is because of it is a measure of the amount of work done, and productivity go to and resulting from the work. With the result we found that the high GDP, the better the quality of life.
GDP per capita shows not only convergence GDP in lifestyle, income and other characteristics that are found in developed countries with high GDP numbers. It also takes into account the population growth rate.
Real GDP per person is used to compare the standard of living among countries for several years. Real GDP per person tells the value of goods and services that the average person can enjoy. Remove any influence of rising prices and increased cost of living may be in comparison with GDP.
Country in Year 2010 China United State
Real GDP (billions) $13,882 $ 16,041
Population (millions) 1348.8 310.2
Real GDP per person $10,247 $ 51,702
Comparing real GDP per person among country and we summarizes the calculation of 2 countries for China and United States: In year 2010, real GDP was $13,882billion and the population was 1348.8 million. Dividing $13,882 by 1348.8 million, we arrive at $10,247 as the value of real GDP per person in China. Doing the similar calculation for United State and we will get real GDP per person of $ 51,702.China's population is more larger than the United States reflect the incomes that can potentially-purpose,
GDP per person is measured frequently that most countries provide information on GDP allowing comparing with other countries. It is measured on a consistent basis that the technical definition of GDP is relatively consistent among countries. When compared to other countries with GDP per capita, GDP per capita as well as abroad is almost always higher, therefore, rich countries and the poor have very different rate of GDP per person. If large GDP leads to a higher standard of living, then the GDP will have to comply with very closely related to various measures if the quality of life this is because of it is a measure of the amount of work done, and productivity go to and resulting from the work. With the result we found that the high GDP, the better the quality of life.
GDP per capita shows not only convergence GDP in lifestyle, income and other characteristics that are found in developed countries with high GDP numbers. It also takes into account the population growth rate.
Real GDP per person is used to compare the standard of living among countries for several years. Real GDP per person tells the value of goods and services that the average person can enjoy. Remove any influence of rising prices and increased cost of living may be in comparison with GDP.
Country in Year 2010 China United State
Real GDP (billions) $13,882 $ 16,041
Population (millions) 1348.8 310.2
Real GDP per person $10,247 $ 51,702
Comparing real GDP per person among country and we summarizes the calculation of 2 countries for China and United States: In year 2010, real GDP was $13,882billion and the population was 1348.8 million. Dividing $13,882 by 1348.8 million, we arrive at $10,247 as the value of real GDP per person in China. Doing the similar calculation for United State and we will get real GDP per person of $ 51,702.China's population is more larger than the United States reflect the incomes that can potentially-purpose,