I am wondering if GDP per capita in a country like Switzerland can have a low GDP per capita but still have a high standard of living, as compared to say the US GDP per capita. If this were true, what could we say further about GDP per capita.
Nothing about the definition of GDP suggests that it is necessarily a measure of standard of living. For instance, in an extreme example, a country which exported 100 per cent of its production and imported nothing would still have a high GDP, ...
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