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National Income As An Indicator Of Standard Of Living
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 year.
The reason that these three factors are the chosen methods of calculation
is that they can all be calculated fairly easily Ð as long as the data is
recorded. The average income in a country determines whether or not people
can afford to live a comfortable life. The expenditure in an economy shows
what people are spending thei ....
Word count: 955 - Page count: 4
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