Explain Why the Differences in GDP Per Capita Actually Understate

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The Answer is GDP per capita only measures the quantity of goods and services available to the average person in a country.It does not reflect other indicators of living standards such as life expectancy,level of education,corruption,and disease,which also tend to be more favourable in countries with a high GDP per capita.As a result,the difference in GDP per capita will tend to underestimate the true difference in living standards across countries.

Explain Why the Differences in GDP Per Capita Actually Understate

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Explain Why the Differences in GDP Per Capita Actually Understate

Essay

Correct Answer:VerifiedShow Answer

Correct Answer:
Verified