Sample Essay GDP Per Capita
In 2007, GDP per capita in Norway, adjusted for price differences, was more than 60 percent above the OECD average, while for Poland, the same number was about half the OECD average, i.e. about a third of the Norwegian level (see http://www.ssb.no/regnskap/). Discuss whether this difference implies that we can say that the inhabitants in Norway have a living standard that is three times as high as in Poland.This is not necessarily true. The GDP per capita is an indication of the earnings per individual of the labor force for any given economy. It is dependent on the GDP as well as the size of the population. The value of GDP is dependent on many factors. Thus, the GDP per capita cannot be used per se as a measure of the differences in living standards. Before we can conclusively say this is true we need to look at the size of the populations within the two countries.