If two economies have the same real GDP per person, the quality of life must be the same in each economy.

Question

Quizplus · Accepted Answer

Real GDP per person measures the total amount of goods and services produced per person in an economy, but it does not account for differences in the distribution of income, wealth, and access to basic necessities such as healthcare, education, housing, and environmental quality. Therefore, two economies with the same real GDP per person can have different levels of economic development, inequality, poverty, and well-being.

If Two Economies Have the Same Real GDP Per Person