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National Income As An Indicator Of Standard Of Living
Beginning of essay
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 living measured by output,
expenditure or income in one ye ....
Middle of essay
....may increase their standard of living.
National Income will rise if employment and output rise, but a rise in
these factors does not necessarily reflect a rise in the standard of living.
For example an oil spill in the ocean will require a large team of rescue
workers to clean up, employment has risen in this situation but the area
suffers terrible effects in terms of the damage to the environment and
natural beauty and perhaps a reduction in the tourist flow into the area.
A further criticis.... |
| Number of words: 955 |
Approximate pages: 4 |
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