If GDP is higher in one country than in another,we can be sure that the standard of living is higher in the country with the higher GDP.

Question

Quizplus · Accepted Answer

GDP is a measure of the total value of goods and services produced in a country, which does not directly reflect the quality of life of the people in that country. Other factors such as income distribution, education, healthcare, and social welfare programs also affect the standard of living. Therefore, a higher GDP does not necessarily mean a higher standard of living.

If GDP Is Higher in One Country Than in Another,we