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Discuss the view that economic growth leads to improvements in people's standards of living.
Member rating: No Rating | Words: | Submitted: Tue Aug 26 2003
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Discuss the view that economic growth leads to improvements in people's standards of living First of all, the people's standard of living is really based on different factors. The standard of living is how well off an individual or a nation is at a point in time. There is no precise way to measure the standard of living but we can analyse statistics to build up an impression of the standard of living of a nation, give or take certain conditions. National income can be a good indicator of the standard of living but certain factors such as unrecorded work, inflation, dispersion of wealth Some economists believe that the standard of living is basically the real national income in the context of the population. Therefore, a high standard of living means that the household consumes a large number of goods and services. Another way to calculate standard of living is to...
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