How is the real GNP calculated in a country for a given year? How is living standard different from cost.?

Question

what is the difference between the of standard of living of a country and cost of living

Answer 1

Real GNP is GNP with inflatory effects taken into account:

Real GNP = GNP - depreciation

Where GNP = C + I + G + X - m

The standard of living is a qualitative measure to determine, well, the standard of living. It not only takes economic growth into account, but also such things as literacy rate, quality of health care, life expectancy etc.

The cost of living is the cost of necessities, in proportion to Gross National Income.