Explain why a rise in GDP will lead to a rise in the standard of living

A rise in GDP would lead to a reduction in unemployment creating jobs which will provide consumers with increased income and purchasing power and therefore increase their standard of living. If population is fixed and GDP rises, you can expect to see a rise in GDP per capita, a measure of standard of living.

OB
Answered by Omar B. Economics tutor

5133 Views

See similar Economics GCSE tutors

Related Economics GCSE answers

All answers ▸

are technological developments making perfect competition more realistic


Which factors affect supply and demand?


What is excess supply?


Explain why the demand for food is relatively price inelastic.


We're here to help

contact us iconContact ustelephone icon+44 (0) 203 773 6020
Facebook logoInstagram logoLinkedIn logo

© MyTutorWeb Ltd 2013–2025

Terms & Conditions|Privacy Policy
Cookie Preferences