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National Income As An Indicator Of Standard Of Living
Part 1 of Paper
....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 fairl.... Part 2 of Paper
....
which is linked to this is that sales in the black economy will also go
unregistered even though they may have significant effects (both good and
bad) on a personÕs standard of living. For example, if drugs were being
sold on the black market this may lead to a rise in crime and so peopleÕs
standard of living would fall, however the person selling the drugs would
increase their income and so that may increase their standard of living.
National Income will rise if employment and output rise,.... |
| Number of words: 955 - Approximate pages: 4 |
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