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Economics A Level (DONEEEEEEE)

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Pregunta:

What are the Limits of GDP and GDP per Capita?

Autor: eric_galvao



Respuesta:

-The Hidden Economy - Economic Activity that will not show up in Figures [Cash in Hand, Homewife] -Public Spending: Governments may give more Benefits than Others. So 2 Nations then with Similar GDP per Capita numbers, but 1 may spend more to Provide Benefits that help the Nation and Standard of Living -Income Inequality. 2 again may have Similar figures, but the Distribution of Income may be Abysmal -Other Differences in Standard of Living [Hours worked, Working Conditions, Damage to Environment and Spending needs]


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