MRU 6.3 Real GDP Per Capita and the Standard of Living
Professor Tabarrok suggest that "abject poverty" can be considered income that is less than about:
$2 per day
Nigeria, Pakistan, and Honduras are presented in the video as examples of:
Countries with similar GDP per capita but vastly different distributions of income
Growth in average income in a country usually indicates:
Growth in everyone's income, including the very poor
Countries that have a ___ also tend to have a ___ life expectancy
Higher real GDP per capita; longer
On average, people who live in countries with ___ tend to be happier
Higher real GPD per capita
Real GDP per capita ____ many of the non-material things that matter to people
Is correlated with
Real GDP per capita :
Is the best single measure of the standard of living within a country, despite being an imperfect measure
Real GDP per capita is a measure that can be used to compare :
Standards of living of different countries or standards of living over time for the same country
One problem with real GPD per capita is that it fails to recognize :
The distribution of income
The reason that non-material factors of well-being tend to be correlated with real GDP per capita is that:
When we have more material goods, we can usually afford more of the other things that improve well-being