When taking GDP on a global scale into consideration, two concerns become immediately obvious. When comparing GDPs, can these elements be taken into consideration, and if so, what precisely are they?
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- When we consider the global GDP, we find two issues. Is it conceivable to take these factors into consideration when comparing GDPs, and what exactly are they?When one takes into account GDP on a scale applicable to the whole world, two issues leap out as instantly apparent. When comparing GDPs, are these factors allowed to be taken into account, and if so, what exactly are they?When thinking about the GDP on a global basis, two concerns become immediately obvious. When comparing GDPs, is it possible to take these things into account, and if so, what precisely are they?
- There are two issues that become apparent when considering GDP on a global basis. When comparing GDPs, can these factors be included, and what are they?GDP is often calculated using the expenditures approach, where you add up all spending in four categories: Consumption (C) + Business Investment (I) + Government Spending (G) + Net Exports (Xn). Based on the data you viewed, you can assume that due to the COVID-19 pandemic, the US GDP took the largest hit from which of the expenditure categories? -Consumption -Business Investment Government -Spending -Net Exports1) Which one is not considered in the calculation of the human development index? a) expected years of education b) GNI per capita c) life expectancy at birth d) life expectancy at the age of 20. 2) The Penn World Table includes several GDP figures. Suppose that you want to compare the standard of living in the Netherlands in 1985 with that of Poland in 2015. Which type of GDP is the best choice? a) CGDP° per capita, b) RGDP° per capita. c) RGDPN^ per capita. d) CGDP° per capita. 3) The Penn World Table calculates world prices in dollars by writing equations for the prices in which they suppose that they know a) the current exchange rates b) the nominal GDPs C) the real GDPs. d) the purchasing power parity exchange rates.
- How can we measure the GDP ( Aggregate output ) ? Explain the approaches by giving examplesUsing the expenditure approach, calculate GDP using the following data: Item Amount in dollars (billions) Consumption 7,600 Consumption of Durable Goods 1,600 Consumption of Non Durable Goods 2,800 Consumption of Services 3,200 Investment 2,750 Fixed Investment 1,000 Government purchases of Goods & Services 1,675 Government Transfer Payments 450 Exports 750 Imports 1,600 GDP EqualsWhy could calculating GDP each year using current prices overstate or understate changes in actual output year to year?
- Calculate the PPP-adjusted GDP for each of the four countries, using the information found in the table below. Instructions: Round your answers to the nearest dollar. Country Ona Rye Zolfo Avon GDP ($) 9,000 12,800 14,100 23,100 Price level (%) 8 -24 -12 23 PPP-adjusted GDP 8,333 -3,072 16,022.73 18800 MGiven the statistics in the table below, which of the following statements is true? Bangaladesh GDP per person (2010 constant U.S. dollars) $1002.39 $1062.04 $1127.27 $1203.22 Year 2015 2016 2017 2018 Kenya GDP per person (2010 constant U.S. dollars) $1093.13 $1129.71 $1157.05 $1202.13 From 2015 to 2018, Kenya's standard of living always exceeded Bangladesh's standard of living. By the year 2018, Bangladesh had caught up with Kenya in terms of standard of living. From 2015 to 2018, Kenya's economic growth always exceeded Bangladesh's economic growth. From 2015 to 2018, Kenya's economic growth rate was always negative.1.1 Double counting can be avoided when computing GDP by: a) simply deducting a double-counting factor from the GDP estimates. b) adding the value of only the intermediate (non-final) goods and services produced. c) adding only the value contributed by firms at each stage of production. d) including the value of all output produced in the economy. 1.2 Which of the following conditions would not be studied by the macroeconomist? a) The level of national unemployment during 1988. b) The effect of government economic policy on the inflation rate during 1987. c) The effect of changing petroleum prices on the demand for coal. d) The effect of lower income taxes on the rate of economic growth.
