Question
In: Economics
What are some of the other ways of comparing the standard of living in countries around...
- What are some of the other ways of comparing the standard of living in countries around the world?
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Expert Solution
ANSWER-
Comparing the standard of living among different countries in the world helps to rank the countries on the basis of many indicators. There are four main ways through which the standard of living can be compared.
1.) Gross domestic product (GDP) - It is the main way with the help of which the standard of living can be compared. It is the monetary measure which measures the market value of final goods and services produced in a country over a period of time. It inclued private consumption, governemnt expendititure, public expenditure, investment and net exports.
2.) Human developemnt index (HDI) - It is an another measure which is used to compare the standard of living of different countries. It composite of education, life expectancy, and per capita income
3.) Satisfaction with life index - This is the another ways to compare the standard of living of different countires. It measures that how people evaluate their life as a whole.
4.) Happy planet index - It measures the impact of human well being and the environment that with enivronment efficiency the people live long and happy lives.
Rahul Sunny answered 2 years agoRelated Solutions
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4.5 5.9 3.5 3.3 2.2 3.5 2.8 4.4 5.7 3.4 4.1
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An economist wonders if corporate productivity in some countries is more volatile than in other countries....
An economist wonders if corporate productivity in some countries
is more volatile than in other countries. One measure of a
company's productivity is annual percentage yield based on total
company assets.
A random sample of leading companies in France gave the following
percentage yields based on assets.
4.9
5.5
3.7
3.8
2.2
3.5
2.8
4.4
5.7
3.4
4.1
6.8
2.9
3.2
7.2
6.5
5.0
3.3
2.8
2.5
4.5
Use a calculator to verify that the sample variance is
s2 ≈...
An economist wonders if corporate productivity in some countries is more volatile than in other countries....
An economist wonders if corporate productivity in some countries
is more volatile than in other countries. One measure of a
company's productivity is annual percentage yield based on total
company assets.
A random sample of leading companies in France gave the following
percentage yields based on assets.
4.9
5.3
3.6
3.9
2.6
3.5
2.8
4.4
5.7
3.4
4.1
6.8
2.9
3.2
7.2
6.5
5.0
3.3
2.8
2.5
4.5
Use a calculator to verify that the sample variance is
s2 ≈...
An economist wonders if corporate productivity in some countries is more volatile than in other countries....
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is more volatile than in other countries. One measure of a
company's productivity is annual percentage yield based on total
company assets.
A random sample of leading companies in France gave the following
percentage yields based on assets.
4.9
5.3
3.6
3.9
2.6
3.5
2.8
4.4
5.7
3.4
4.1
6.8
2.9
3.2
7.2
6.5
5.0
3.3
2.8
2.5
4.5
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