Being unemployed affects the living standards not only economically but also for their well-being. The unemployment rate for Sudan as of 2014 is 13.6% of the population, that seems like a small percentage but Sudan 's population is small. The living standards in Sudan must be bad for the unemployed people because without a job, they can 't feed their family. The unemployment rate in America is low at 6.2% of its population, most people there probably live comfortably because they have a job.
Sudan has a budget deficit of 2.6% of it 's GDP, this is bad because it doesn 't have the biggest GDP so it means that if it 'll accumulate a lot of debt in the future. The budget deficit of America is 2.8% of its GDP, its not as bad because the GDP is large. Because their economy is in a stable position the citizens will also be in a good state. Inflation rates in America is 1.6%, this is really good because the ideal rate is 1%-2% one of the reasons why it 's good is because low inflation rates mean low interest rates for the citizens so they don 't have to pay as much interest. Inflation rates in Sudan is very high, it 's 36.9%. This is bad because people will buy as many things even if they don 't …show more content…
They say in general that the higher the GDP the more effective and better the economy is, but it doesn 't take into account cash trans actions, volunteer work or non-market productions so it 's doesn 't fully reflect the living standards as there are still some missing spots. Another index that can be used as an example is the total quality of life, it 's a measure independent of economic factors and solely focuses on the quality of life. It covers the basic things like pollution and crime rates but it doesn 't take into account things like how vulnerable a country is to natural disasters or crises that happen there, so it 's unfair to say that it 's a good reflection of the country 's reality living
Sudan has a budget deficit of 2.6% of it 's GDP, this is bad because it doesn 't have the biggest GDP so it means that if it 'll accumulate a lot of debt in the future. The budget deficit of America is 2.8% of its GDP, its not as bad because the GDP is large. Because their economy is in a stable position the citizens will also be in a good state. Inflation rates in America is 1.6%, this is really good because the ideal rate is 1%-2% one of the reasons why it 's good is because low inflation rates mean low interest rates for the citizens so they don 't have to pay as much interest. Inflation rates in Sudan is very high, it 's 36.9%. This is bad because people will buy as many things even if they don 't …show more content…
They say in general that the higher the GDP the more effective and better the economy is, but it doesn 't take into account cash trans actions, volunteer work or non-market productions so it 's doesn 't fully reflect the living standards as there are still some missing spots. Another index that can be used as an example is the total quality of life, it 's a measure independent of economic factors and solely focuses on the quality of life. It covers the basic things like pollution and crime rates but it doesn 't take into account things like how vulnerable a country is to natural disasters or crises that happen there, so it 's unfair to say that it 's a good reflection of the country 's reality living