1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Anna007 [38]
3 years ago
5

How does an economist compare the standard of living in two different countries

Geography
2 answers:
love history [14]3 years ago
5 0

In order for an economist to compare the living standard in two different countries, he/she will need to take multiple parameters in consideration and compare all of them individually, after them sum them up and make the final conclusion.

One of the things is the GDP nominal of the countries, which shows how strong the economy of the country is, and in which direction it is moving. Then the GDP per capita, which will reflect how much actually the citizens earn on average. The prices of the goods and services in the countries come as next, and their prices are then compared with how much the GDP per capita, so that the economist can see what is the economic power of the citizens. The availability and quality of the institutions of the countries, the infrastructure, corruption rate, freedom of speech, will all be examined in order to determine the living conditions that are available to the people. So once all of these things are examined and summed up, the economist will be able to make a proper comparison of the standard of living in the two countries.

PilotLPTM [1.2K]3 years ago
3 0

Answer: by comparing real GDP per capital

Explanation: GRADPOINT

You might be interested in
Which of the following contributes to the phases of the Moon as seen from Earth? Select each correct answer. More than one answe
Delicious77 [7]
<span>It is the Sun lighting different parts of the Moon at different times and varying amounts of the Moon's lit surface being visible from Earth.</span>
6 0
3 years ago
Read 2 more answers
Which of the following is an indicator of good water quality? (2 points)
Alex17521 [72]
High levels of dissolved oxygen
8 0
4 years ago
What are the three smallest countries in the world?.
ArbitrLikvidat [17]

Answer:

The three smallest countries in the world are:

  • Vatican City (it is a country)
  • Monaco
  • Nauru

6 0
2 years ago
Read 2 more answers
Which is not a physical property?
antoniya [11.8K]
Extensive properties, such as mass and volume, depend on the amount of matter being measured. Intensive properties, such as density and color, do not depend on the amount of the substance present. Physical properties can be measured without changing a substance's chemical identity.
7 0
3 years ago
Canada is __________ of the United States and __________ of the Arctic Ocean.
Murljashka [212]
I might be wrong but I’m pretty sure your answer is B
7 0
3 years ago
Read 2 more answers
Other questions:
  • What physical feature connects the different regions of the southern grassland countries of South America?
    5·2 answers
  • El Ninos create their own distinct weather patterns. Which of the following is one of them? wetter-than-normal weather for much
    7·2 answers
  • If the sea level were to be lowered, which feature of the ocean basin would be most readily visible? A. abyssal plain B. contine
    5·2 answers
  • For which of the following can a relative age be determined? Select all that apply. A. fossil
    13·2 answers
  • The ability to identify where you are, that is locating your space and evaluating it in relation to someplace else, is known as
    12·2 answers
  • Which of these best describe a steppe?
    7·2 answers
  • Which seven latin american countries do the andes mountains run
    5·1 answer
  • What portion of Ireland is controlled by the United Kingdom?
    10·1 answer
  • ROCKS AND MINERALS
    15·1 answer
  • What is a skew and parallel
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!