Which countries have the highest standard of living? Standard of living refers to the rank of getting pleasure for everyday life in luxury and extravagance by an individual or a society. There are certain factors to consider supporting the rankings to find out the answer. Highest standard of living can be measured thru the country's level
Why do developed countries have a low GDP growth rate compared to developing countries? Can developed countries achieve a GDP growth rate as high as developing countries?
Standard textbook response to a question such as why is China growing faster than the US can be summarized in six key words - catch up effect, and diminishing marginal return.Skip next 5 paragraphs if you already understand the notion of diminishing marginal returnLet's
Yes and No.Yes because higher GDP mean higher demand for workers, so lower unemployment and the workers receives income causing poverty to fall and increasing the living standards of the population. However, with higher GDP employment rate will be high which results in high
BRIC Countries: Chinahttp://www.emarotta.com/bric-cou...One in every five people in the world lives in communist China. Unlike other BRIC countries, the Chinese lack representative government, the rule of law administered by independent judges, basic human rights, freedom of the media, independent universities