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National Income As An Indicator Of Standard Of Living

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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 ....

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....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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