... comfort in terms of goods and services available to someone. The countries' standard of living comparison data provides the essential information for each country's government and identifies progress of each country. Nevertheless, there are many difficulties in trying to compare the living standard between countries. I would like to cover three significant difficulties in this paper. Section ? focuses on many different measures that can indicate a "higher or lower" standard of living, such as gross domestic product (GDP), The Genuine Progress Indictor (GPI), Human Development Index (HDI) and Engel's Law and Index of Social Health. In Section ?, I will exposit how exchange rate influences the standard of living comparison. The Section ? presents the difficulties in comparing living standard in the non-balance development countries. Last, I conclude a few summary observations. ?. Alternative Measures of Standard of Living To compare the standard of living between ...

See this essay or coursework document in full right now