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The gross domestic product (GDP) is correlated with the standard of living.

Likewise, bringing broken car to mechanics will result in broken parts being repaired, few hours of labor being spent, and you spending time taking the car to and from the mechanics. All this will result in increased GDP. In the society with a really good standard of living car would not brake so often, people would not spent time repairing the car, waiting for car to be repaired, etc - people would spend their quality time reading books, having fun with friends, doing something creative, etc. GDP represents the market value of all final goods and services produced within a country. Medicare services are included in this calculation. The sicker the people, the more they go to hospitals and the more medications they take. This results in greater GDP. GDP is therefore deeply flowed as an indicator of standard of living. The gross domestic product (GDP) is correlated with the standard of living.





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