Explain Why Per Capita Gross Domestic Product (GDP)is a Better

question 34

Essay

Explain why per capita gross domestic product (GDP)is a better measure of a nation's standard of living than national GDP.

---

Definitions:

Balance On Current Account

A measure of a country's international trade where the value of imports and exports of goods, services, and monetary transfers are accounted.

Inflation Rate

The percentage increase in the general level of prices for goods and services over a period.

U.S. Exports

Goods, services, and technologies sold and shipped by the United States to other countries, contributing to the nation's income and employment.

Dollar Appreciates

An increase in the value of the US dollar relative to other currencies in the global foreign exchange markets.