12. Income level or GDP is criticized as an indicator of development mainly because it takes no account of the distribution of income.

Q: . What are the differences and/or similarities if there is between economic growth and economic…

A: Economic growth and Economic Development sound quite similar but the terms are different. Both of…

Q: 15. Assume that the real income of a developing Island increases from $120,000 to $160,000 from 2005…

A: The real income per capita of a country is defined as the real income divided by the total…

Q: 9. What are Sources of productivity

A: We will answer the first question since the exact one was not specified. Please submit a new…

Q: During 2020-21, the national income of India declined by 7.5%. What could be the main reasons and…

A: The Reserve Bank of India recently projected 7.5% contraction or decline in national income. The…

Q: 1. In the last century, Tunisia's Gross Domestic Product (GDP) has grown rapidly on average 5% per…

A: The basic growth rate formula that will help to solve this kind of problem Xt+n=Xt1+gn Where g is…

Q: Year Honinal GDP GDP deflator Real GDP Population $1, 000, 000 $1. 050, 000 (2012 dollars) $1, 000,…

A: A country’s nominal GDP measures the GDP at the current prices, unadjusted for inflation. Real GDP,…

Q: 11. The table below shows the average income per person in two countries in 1900 and their…

A: Answer to the question

Q: 31. Increases in the rate of growth of income per person in the United States in the mid-1990s is…

A: The income per person is the aggregate income divided by the population rate. The income per person…

Q: 1. Economic growth around the world The following table reports real income per person for several…

A:

Q: 17. The Human Development Report (HDR) published by UNDP compares countries based on literacy rate,…

A: The Humans Development Report is the report in which UNDP records some specfiic parameters of…

Q: "6 2011 real GDP (using 2012's prices) 10. 2012 real GDP (using 2012's prices) 11. What is real…

A: The real gross domestic product of an economy is the aggregate value of all final goods and services…

Q: Discuss the merits and demerits of real GDP per capita a measure of a country’s living standard

A: The average national income per person that adjustable for inflation is referred to as real GDP per…

Q: What are 3 economic indicators that are important to evaluate the economic situation of a country

A: Unemployment is the situation in which an individual is seeking a job and unable to find one.

Q: discuss the factors that contribute the most to economic growth? 1500 words limit

A: The term economic growth is associated with economic progress and advancement.   Economic growth can…

Q: 4. What are the common features of structural changes China shares with other developing countries?…

A: Macroeconomics is a sub-part of economics that is used to understand, the policies and fiscal…

Q: IS GDP important for economic growth

A: GDP (Gross Domestic Product) is the value of all final goods and services produced in the country…

Q: 6. To boost economic growth the government is most likely to: a. increase interest rates b. increase…

A: The unemployment that arises with the change in business cycles is referred to as cyclical…

Q: True or False 1. The end of economic development is the improvement of quality of life and…

A: "Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: 3. Calculate the steady state level of investment in an economy with a savings rate of 15%,…

A: Let total output be Y, savings rate be s, population growth be n. Yt=KtαLt1-αYtLt=KtαLt1-αLt⇒yt=ktα,…

Q: Under a developing economy, an analysist assigned you to calculate the followings for the further…

A: The national income of the country is the value of the all the final items and the services produced…

Q: What is the relation between productivity growth and living standards?

A: The productivity would be the output produced by one person in a given time period. The productivity…

Q: 1. What do you think are the reasons why every country has different levels of economic development.…

A: 1. Even though Argentina's actual per capita income used to be one of the highest in the world 100…

Q: 12. If the Real GDP for year 1 was $ 57,900 and for year 2 it was $ 60,000, determine the percentage…

A: Economic growth can be defined as the increase or improvement in the inflation-adjusted market value…

Q: What is the following formula that could be used for calculating the per capita income of a…

A: According to the given question In simple words we can say that the total income or the per capita…

Q: In 1988 the value of RGDP was $9,000.38 billion and the population was 298.32 million. What was the…

A: Real GDP is one of the significant measures of increment in income level or economic growth. It…

Q: 7. Which of the following are sources of growth?

A: Economic growth is the growth in the output level in an economy. Output level can be increased by…

Q: 1. Write a short note on Human Development Index (HDI). Is HDI is a precise measure to find out the…

A: Write a short note on Human Development Index (HDI). The Human Development Index (HDI) is one of the…

Q: Why is economics central to an understanding of the problems of development?

A: As economics deals with the understanding of growth and development due to the factors and variables…

Q: iv) Natural disasters increase the post-disaster Gross Domestic Product (GDP) but are bad to long…

A: GDP refers to the final value of goods and services that produced in a nation in a particular period…

Q: The real GDP per person in a country A  has grown about 4 percent per year. When this country' GDP…

A: Real GDP per person is defined as the volume of goods and services produced in an economy by taking…

Q: 1. What do you think are the indicator of cost of living in economics and how it is measured.…

A: The term cost of living refers to the amount required to cover all the basic expenses of an…

Q: 3. What is development? Sustainable development? We often use real per capita GDP as a proxy for the…

A: Advancement characterize as the improvement in nation's financial and social condition. Advancement…

Q: Why it is so important to discuss the relationship between income inequality and CO2 emission in…

A: In an economy, CO2 emission is a negative externality because it pollutes air and water due to…

Q: 2. a. List the Kaldor Growth Facts.

A: Since the question you have posted consists of multiple parts, we will answer the first question for…

Q: 6. Which of the followings is incorrect according to Kaldor growth facts?

A: Economic development is an expansion in the production of labor and products in an economy.…

Q: 3. Which of the following is not one of the three terms used to describe and compare the level of…

A: Here, they are asking about comparing the level of economic development in a country.

Q: What is the economy's growth rate between Quarter 3 and Quarter 4?

A: Nominal Growth rate between quarter 3 and 4 =  = Nominal GDP in quarter 4 - nominal GDP in quarter 3…

Q: 4. Consider the following information about a developing country: Income per capita $1037 Life…

A: The Human Development Index is an instrument that is used to measure the development of a country in…

Q: In 2017, the GDP of Brazil was $5100. In 2018, the GDP of Brazil was $11800. a. What is the growth…

A: The percentage change in the value of the total goods and services produced in a country during a…

Q: 12. If the Real GDP for year 1 was $57,900 and for year 2 it was $ 60,000, determine the percentage…

A: Economic growth is determined as the rise in the capacity of the economy for producing the services…

Q: The real GDP of the U.S. economy was $19,222.0 billion at the end of 2019. (a) Calculate the real…

A: If  GDP is Y, Growth is g% per year, after t years the GDP will be Y(1+g100)t Here given Y= $19222…

Q: QUESTION 2 If Z = (XY)2, and we know that the annual growth rate of Z is 3%, and the annual growth…

A: Growth rates refer to the percentage change of a specific variable within a specific time period.…

Q: Define Primary Sector? Why is the role of the primary sector vital for economic development?

A: Activities specifically dependent on natural resources are referred to as the primary sector. It is…