Kindly help me with the following questions:
1) Discuss whether a high per capita Real GDP in a country necessarily mean that people enjoy a high quality of life as well.
2) Explain clearly 3 limitations of using Real GDP per capita as a measure for comparing living standards between countries.
3) Explain why economists do not use nominal GDP figures when comparing a country's GDP over time.
4) Explain clearly why the Real GDP per capita statistic is not a perfect measure of living standards of people in different countries in the world.