Real GDP, and Per Capita GDP are not good measures of the standard of living in a...
Real GDP, and Per Capita GDP are not good measures of the standard of living in a county . Discuss?
Homework Answers
real gdp and percapita gdp are used as the indicators of standard of living since ages now, but these measures has there own flaws. these measures include both good and bad. if an economy faces a natural disaster and for the recovery government spends money it will be added to the possitive side of the gdp but no body will agree that the economy is better off because of the disaster. like wise neither GDP nor per capita gdp includes the happyness or internal satisfaction of a person where as thats the major thing that indicates if a person is really well or not. gdp doesnot count leasure and satisfaction, it doesnot adjust for the distribution of goods and also its not adjusted for the pollution cost, many more flaws are also there so neither GDP nor percapita gdp is a good measure of standard of living in the country.
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Real GDP, and Per Capita GDP are not good measures of the
standard of living in a...
1) A good measure of the standard of living is A) real GDP per capita B)...
1) A good measure of the standard of living is A) real GDP per capita B) the real interest rate C) total nominal GDP D) total real GDP. E) nominal GDP per capita 2) If you invest $10,000 in a bond that earns 8% interest per year, how many years will it take to double your money? A) 1 year and 3 months B) 2 years and 6 months C) 5 years and 6 months D) 8 years E) 8...
How do we measure and compare living standard? Explain why real GDP per capita isn't a...
How do we measure and compare living standard? Explain why real GDP per capita isn't a perfect measure of living standard Share your thought on how to measure and compare living standard and quality of life
1. Which of the following measures a nation's standard of living? e A. real GDP B....
1. Which of the following measures a nation's standard of living? e A. real GDP B. real GDP per person C. nominal GDP D. nominal GDP per person 2. Last year, real GDP in Oceania was $620 billion and the population was 2.3 million. The year before, real GDP W $502.0 billion and the population was 2.0 million. What was the approximate growth rate of real GDP per person A. 16 percent B. 13 percent C. 10 percent D. 7...
How does "increases in per capita GDP automatically lead to a higher standard of living for...
How does "increases in per capita GDP automatically lead to a higher standard of living for U.S. citizens."?
Assume that a "leader country has real GDP per capita of $40,000, whereas a "follower country"...
Assume that a "leader country has real GDP per capita of $40,000, whereas a "follower country" has real GDP per capita of $20,000. Next suppose that the growth of real GDP per capita falls to zero percent in the leader country and rises to 7 percent in the follower country. If these rates continue for long periods of time, how many years will it take for the follower country to catch up to the living standard of the leader country?...
Country A starts with real GDP per capita equal to $ 40,000 and Country B starts with real GDP per capita equal to $ 2,000 .
Country A starts with real GDP per capita equal to $ 40,000 and Country B starts with real GDP per capita equal to $ 2,000 .Today the RGDP per capita in A is _______ times the value in B.Country A is growing at a rate of 3.5 % per year and Country B is growing at a rate of 7 % per year. Assume these growth rates do not change.Country A will double its RGDP per capita in _______ years...
GDP per capita around the World The American standard of living is nearly five times higher...
GDP per capita around the World The American standard of living is nearly five times higher than the average for the rest of the world. People in the poorest nations of the world (e.g., Halti, Ethiopia) barely survive on per capita Incomes that are a tiny fraction of U.S. standards. Source: The World Bank, www.worldbank.org. 53,670 GDP per capita (2013) 52,200 46,140 42,250 26,200 25,920 13,860 10,564 9.940
If a country's real GDP per capita declines, this means that the following may have occurred:...
If a country's real GDP per capita declines, this means that the following may have occurred: I. The country has more people and real GDP did not change. Il. Real GDP increased but the population declined III. The country's standard of living is falling O I only. l and Il only. ?Ill only I and Ill only
Suppose U.S. real GDP per capita will be growing at 2% each year, and China will...
Suppose U.S. real GDP per capita will be growing at 2% each year, and China will be growing at 5.5%. How many years does it take for the living standard of China relative to U.S. to double?
7. Discuss why the nominal GDP per capita is a good measure of a countries economic...
7. Discuss why the nominal GDP per capita is a good measure of a countries economic well being and why it is a poor measure. a. (5 points) Why is the nominal GDP per capita a good measure? b. (5 points) Why is the nominal GDP per capita a poor measure?
1) A good measure of the standard of living is A) real GDP per capita B) the real interest rate C) total nominal GDP D) total real GDP. E) nominal GDP per capita 2) If you invest $10,000 in a bond that earns 8% interest per year, how many years will it take to double your money? A) 1 year and 3 months B) 2 years and 6 months C) 5 years and 6 months D) 8 years E) 8...
1. Which of the following measures a nation's standard of living? e A. real GDP B. real GDP per person C. nominal GDP D. nominal GDP per person 2. Last year, real GDP in Oceania was $620 billion and the population was 2.3 million. The year before, real GDP W $502.0 billion and the population was 2.0 million. What was the approximate growth rate of real GDP per person A. 16 percent B. 13 percent C. 10 percent D. 7...
Assume that a "leader country has real GDP per capita of $40,000, whereas a "follower country" has real GDP per capita of $20,000. Next suppose that the growth of real GDP per capita falls to zero percent in the leader country and rises to 7 percent in the follower country. If these rates continue for long periods of time, how many years will it take for the follower country to catch up to the living standard of the leader country?...
GDP per capita around the World The American standard of living is nearly five times higher than the average for the rest of the world. People in the poorest nations of the world (e.g., Halti, Ethiopia) barely survive on per capita Incomes that are a tiny fraction of U.S. standards. Source: The World Bank, www.worldbank.org. 53,670 GDP per capita (2013) 52,200 46,140 42,250 26,200 25,920 13,860 10,564 9.940
If a country's real GDP per capita declines, this means that the following may have occurred: I. The country has more people and real GDP did not change. Il. Real GDP increased but the population declined III. The country's standard of living is falling O I only. l and Il only. ?Ill only I and Ill only
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