This is a short summary of the paper
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National Income As An Indicator Of Standard Of Living
Start of Term Paper
Development Economics: Evaluate the validity of using National Income
statistics as an indicator of standard of living and as a comparison of
economic development between different countries.
National Income is an indicator of standard of liv .... Middle of Term Paper
... imports and exports). From this
perspective National Income statistics should therefore give at least an
idea of the standard of living in a country. This is why this statistic is
widely used in the USA and Japan.
However, there are some criticisms of National Income statistics. The
first major criticism is that of accuracy due to difficulties in the
measurement. E.g. Second hand deals go unregistered. The second criticism
which is linked to this is that sales in the black economy will also go
unregistered even though they may have significant effects (both good and
bad) on a personŐs standard of living. For example, if drugs were bei ... |
| Number of Words: 955 |
Approximate Pages: 4 |
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