Goal+-+Improved+Standard+of+Living

Improving the standard of living is recognized as one of the most significant goals in macroeconomics. Canada has been very successful achieving a high standard of living. Canadians have a comparatively high income compared to people in other countries. The human development index is used to measure the living standards among countries. Gross national income, life expectancy, and education are compared to establish which country has the highest living standards.
 * Macroeconomic Goal of Improved Standard of Living- Samantha Hendry**

The more a country has to offer for its citizens, the higher the standard of living in that country. When a country is rich in terms of money or natural resources, they have the ability to enrich the lives of their citizens. Better education is provided, as well as improved health care systems. Canadians have access to goods and services, as well as the ability to enjoy entertainment and a clean environment. Having a high standard of living in Canada allows our citizens to become more skilled and educated. With these conditions present we are able to produce goods and services more efficiently. Economic growth is essential to maintain and improve our standard of living. Economic growth is achieved when there is a progressive change in gross domestic product. It is necessary to keep up with the production of goods and services so we can produce faster than the population increases. When economic growth is greater than the growth of the population, the standard of living is improved.

Living standards are really low across most of the world. According to the Encyclopedia of Earth, “The United Nations estimates that about 1.2 billion people—or about 20% of the world’s population—live in absolute poverty, subsisting on the equivalent of U.S. $1 per day or less. The production of more and better housing, better roads, more grain, more schooling, and more medical care—more goods and services—is necessary to raise living standards in such situations.”

**Information in this document is referenced from:** Class notes and lectures by Dr. Stephanie Powers January 2011. John Sayre and Alan Morris, //Principles Of Macroeconomics //, McGraw-Hill Ryerson, 2009, p 22-23 http://www.eoearth.org/article/Macroeconomic_goals