Homework Answers
GDP reflects on the income and output level of economy.A higher GDP is associated with high income and high output.An increase in GDP indicates that the economy is growing.
GDP does not take into account the quality of life because educay, healthcare, environmental condition and some other social factors are not included in GDP.A low GDP does not necessarily mean a poor quality of life.Bhutan is a small country with a good quality of life but low GDP compared to India with a not so good quality of life and high GDP.
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21. What does GDP primarily indicate about an economy? As such, what are some of its...
ages) 178-183.2.Wat does GDP tell us about the economy? Match the use of GDP data to...
ages) 178-183.2.Wat does GDP tell us about the economy? Match the use of GDP data to the appropriate situation. Drog each item on the left to its matching item on the right. Leia examines real per capita GDP over a ten-year period to determine whether the decline or on the rise. measuring long-term economic growth measuring business cycles measuring living standards Brad looks at real per capita GDP to determine what impact the recent recession has had on economic activity....
e Page(s) 180-182 6.2. What does GDP tell us about the economy? The real GDP of...
e Page(s) 180-182 6.2. What does GDP tell us about the economy? The real GDP of Country A grew by only 1% from 2011 to 2013, while the real GDP of Country B grew by 5% during that same time span. Based on the data, what can we say definitely about the two countries? Correct Answer(s) Drag appropriate answer(s) here Country Bhas a very high quality of life. Country A has a modestly high quality of life. Country A's economy...
How is per capita GDP calculated, and what does it tell us about the economy? Explain?
How is per capita GDP calculated, and what does it tell us about the economy? Explain?
How is per capita GDP calculated, and what does it tell us about the economy? Explain?
How is per capita GDP calculated, and what does it tell us about the economy? Explain?
Here is some data on the economy: 2007 2008 Real GDP $1,300,000 $1,328,000 Populatio 12,227 12,838...
Here is some data on the economy: 2007 2008 Real GDP $1,300,000 $1,328,000 Populatio 12,227 12,838 2009 $1,429,000 13,480 2010 $1,411,000 14,154 2) Calculate real GDP per capita 3) Calculate the growth rates for each year for real GDP and population. 4) Estimate the growth rates for each year for GDP per capita real using the growth rates from 3). Check your estimate by calculating the actual per capita growth rate. 5) Using the growth rates from 2008 to 2009,...
18) is our economy primarily manufacturing service or agricultural? 19) what is a Lorenz curve? 20)...
18) is our economy primarily manufacturing service or agricultural? 19) what is a Lorenz curve? 20) what is a quin tile when referring to population and income distribution? 21) tariffs are a great way to punish china without causing harm to our own economy true or false? 22) explain your answer in question 21 23) resources are _____while human wants and needs are _______ 24) using the CIA website and world fact book answer the following questions: what is the...
1. What does the term ‘shadow economy’ mean? 2. How does the shadow economy affect GDP...
1. What does the term ‘shadow economy’ mean? 2. How does the shadow economy affect GDP in different countries? 3. What are the main factors influencing the shadow economy? 4. Why is the shadow economy a challenge for the governments? 5. Reflection – the students also should include a paragraph in the initial response in their own words reflecting on specifically what they learned from the assignment and how they think they could apply what they learned in the workplace.
1. What does the term ‘shadow economy’ mean? 2. How does the shadow economy affect GDP...
1. What does the term ‘shadow economy’ mean? 2. How does the shadow economy affect GDP in different countries? 3. What are the main factors influencing the shadow economy? 4. Why is the shadow economy a challenge for the governments? 5. Reflection – the students also should include a paragraph in the initial response in their own words reflecting on specifically what they learned from the assignment and how they think they could apply what they learned in the workplace.
Indicate whether each statement is true or false and explain your response in about 4-5 sentences....
Indicate whether each statement is true or false and explain your response in about 4-5 sentences. The rise of China in the global economy in the last forty years represents a historically new event. In a Soviet-type economy, investment is primarily led by households. Mao established a command economy in 1949 to take advantage of China’s capital abundance. During the Mao era, people’s life expectancy and literacy rates improved. One of the reasons behind the adoption of the economic reforms...
The potential GDP line is a ________ on the Keynesian Cross diagram which indicates GDP at...
The potential GDP line is a ________ on the Keynesian Cross diagram which indicates GDP at its potential on the horizontal axis. vertical line horizontal line sloping upward line The pure Keynesian AD-AS model assumes that for any level of GDP below potential, any change in AD affects real GDP, but NOT the ________. price level output level spending level Suppose an economy is defined by the following: C = 136 + 0.9 (Yd). The (Yd) in this algebraic equation...
ages) 178-183.2.Wat does GDP tell us about the economy? Match the use of GDP data to the appropriate situation. Drog each item on the left to its matching item on the right. Leia examines real per capita GDP over a ten-year period to determine whether the decline or on the rise. measuring long-term economic growth measuring business cycles measuring living standards Brad looks at real per capita GDP to determine what impact the recent recession has had on economic activity....
e Page(s) 180-182 6.2. What does GDP tell us about the economy? The real GDP of Country A grew by only 1% from 2011 to 2013, while the real GDP of Country B grew by 5% during that same time span. Based on the data, what can we say definitely about the two countries? Correct Answer(s) Drag appropriate answer(s) here Country Bhas a very high quality of life. Country A has a modestly high quality of life. Country A's economy...
Here is some data on the economy: 2007 2008 Real GDP $1,300,000 $1,328,000 Populatio 12,227 12,838 2009 $1,429,000 13,480 2010 $1,411,000 14,154 2) Calculate real GDP per capita 3) Calculate the growth rates for each year for real GDP and population. 4) Estimate the growth rates for each year for GDP per capita real using the growth rates from 3). Check your estimate by calculating the actual per capita growth rate. 5) Using the growth rates from 2008 to 2009,...
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