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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

What are some of the other ways of comparing the standard of living in countries around the world?

To determine

To discuss: The other methods that can be used for comparing the standard of living around the world.

Explanation

The measurement of standard of living is purely based on economics. Apart from Gross Domestic Product, some other ways are like Human Development Index which works as a statistics of composite nature and compute the index by considering the account health, education and income...

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