Standard of Living

This measure of economic welfare is notoriously unreliable because it relies on GDP (Gross Domestic Product), a calculation that does not distinguish between consumer and capital goods, and it assumes an even distribution of wealth across a populace. That said, it serves best as a comparative indicator among nations. At the close of the 1990s, Canada's GDP was slightly higher than that of the United Kingdom, and lower than those of the USA and Sweden.