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{a] If we're interested in measuring the standard ofliviug ofthe members of an economy, wh}r can't we just use GDP? Why do we need to
{a] If we're interested in measuring the standard ofliviug ofthe members of an economy, wh}r can't we just use GDP? Why do we need to use GDP per person? {[1] GDP per person is not a perfect metric for standard of iiving. Explain a few things that GDP per person cannot tell us about the standard of living of people in an economy. {c] 'When we say that output per person in rich countries has converged over the last TD years, what do we mean by "convergence?"
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