1.What was the topic of your essay?
GDP and Standard of living;
Question: Is GDP an accurate way to measure the standard of living? And my Essay
Response/Thesis: No, GDP is an ineffective tool to measure the Standard of
living.
2. How has your opinion changed through the research you did while writing your essay?
I
had thought that GDP was a direct measure of the nation’s standard of living
but through data and research I have found that GDP is only the measure of
the standard of living and the measure itself is usually inaccurate.
3. What interesting facts did you find out during your research that you did not include in your essay (were not relevant to your topic?)
The
ranking and difference of national GDP (as in Purchasing Power) compared that
of GDP per capita is massive. For example India’s GDP (Purchasing Power) is
4.515 trillion which is 3rd in the world but the GDP per capita is
3700$; 164th in the world.
4. How do you think your quality of life and standard of living relate to others around the world (which country/demographic do you think your circumstances are on par with?)
I
believe I am privileged to have a higher-than-average quality of life and
standard of living to those compared to citizens that live in Egypt but on the
other hand, lower quality of standard of living compared to citizens of Korea.
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