Is GDP a good indicator of a country’s wealth? Why or why not? Explain.
GDP is a good indicator of a country's wealth . This is true. As GDP measures the market value of all goods and services produced in an economy and goods and services can be considered as the true wealth of the economy. Thus GDP is a good indicator of a country's wealth.
Is GDP a good indicator of a country’s wealth? Why or why not? Explain.
Define and explain the difference between “gross” GDP and “per capita” GDP. Which is a better indicator? Which is a better indicator of “income” strength in an economy? Why?
Is the pure maximization of GDP a good economic goal? If so, explain why. If not, list TWO reasons why not.
Why do you think the health of infants is one indicator of the relative wealth of a country? Give at least three specific points.
Is it accurate to use changes in real GDP to measure changes in the welfare of a country’s population? Explain. 3 Marks
9. Why is money supply related to a country’s balance of payments? If China decides to consumes its stock of foreign exchange reserves, what will happen to China’s money supply and inflation? Explain. 10. Explain how we should measure the openness of an economy. Please compute your country’s trade/GDP ratio an compare that with that of China.
9. Why is money supply related to a country’s balance of payments? If China decides to consumes its stock of foreign exchange reserves, what will happen to China’s money supply and inflation? Explain. 10. Explain how we should measure the openness of an economy. Please compute your country’s trade/GDP ratio an compare that with that of China.
1.What is real GDP and why is it considered an indicator of the economy’s “health”? 2. Why do economists believe real GDP is a better measure over nominal GDP? 3. How many recessions has the U.S. had in the last decade? When was the last recession and how long did it last? 4. What are the four main GDP expenditure categories? 5. What has happened to GDP in the last year? Which spending categories have gone up? gone down?
Define an acid-base indicator. Explain why phenolphthalein is chosen as an indicator for the titration for standardizing NaOH, determining % composition of KHP, and determining the acid content of vinegar. (Look up for the Ka for the indicator online and explain why this indicator is chosen for these titrations)
Suppose a country’s GDP equals $500 billion for a particular year. Economists in the country estimate that household production equals 40% of GDP. a. What is the value of the country’s household production for that year? b. Counting both GDP and household production, what is the country’s total output for the year? **please show detail work or excel formulas.
Explain the instances where Real GDP per person might be a misleading indicator of economic well-being.