Question

what is the relationship between a country's rate of population increase, rate of growth in GDP, and standard of living?

Subject: Macroeconomics

Answer 1

The relationship between a country's rate of population increase, rate of growth in GDP, and standard of living are :-

The Staandard of living equals the ratio of real GDP to population,

if population of an econmy increase the rate growth (GDP) of econmy, standard of living decreases or fall down And same if rate of growth of economy (GDP) increases population growth of an econmy the standard of living increases or goes up..

The Gross domestic product (GDP) is  the total output of goods and services produced in a year in an econmy and it good measure of standard of living. If a country GDP is higher its standard of living is also higher as it pays higher wages. And the development of econmy is also good .

Population is another important factor of growth if population increases it will slow down the economy as we have limited resources. Which result in unemployment, lower growth , people ready to work in low wages which will also affect the standard of living.

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