People enjoy a high quality of life

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Reference no: EM131499162

Kindly help me with the following questions:

1) Discuss whether a high per capita Real GDP in a country necessarily mean that people enjoy a high quality of life as well.

2) Explain clearly 3 limitations of using Real GDP per capita as a measure for comparing living standards between countries.

3) Explain why economists do not use nominal GDP figures when comparing a country's GDP over time.

4) Explain clearly why the Real GDP per capita statistic is not a perfect measure of living standards of people in different countries in the world.

Reference no: EM131499162

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