2. Study Questions and Problems #2Which of the following are considered to be problems with using GDP per capita to compare welfare between nations? Check all that apply.Currency conversion fluctuations distort actual differences in the value of goods and services produced.Income is usually distributed evenly among most families in developing nations, making the comparison unfair to developed nations.Some nations do not have GDP.Nations tabulate GDP with differing degrees of accuracy.GDP per capita ignores income distribution.

There are a number of issues with comparing welfare between countries only on the basis of GDP per…

Answered: 2. Study Questions and Problems #2…

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter23: Growth And Less Developed Countries

Section: Chapter Questions

Problem 1SQ

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In 1980, Denmark had a GDP of 70 billion (measured in U.S. dollars} and a population of 5.1 million. In 2000, Denmark had 3 GDP of 160 billion (measured in U.S. dollars} and a population of 5.3 million. By what percentage did Denmarks GDP per capita rise between 1980 and 2000?
Retrieve the following data from The World Bank database (http //databank.worldbank. org/data/ home.aspx) for India, Spain, and South Africa for the most recent year available: â€¢ GDP in constant international dollars or PPP â€¢ Population â€¢ GOP per person in constant international dollars â€¢ Mortality rate, infant (per 1,000 live births) â€¢ Health expenditure per capita (current U.S. dollars) â€¢ Life expectancy at birth, total (years)
Please tell me which is the correct awnser for question 1.1 below there is nothing missing please just tell me which awnser or aawnsers are correct thank you Select one or more: a. If Country C's GDP per capita rises from $2,500 to 7,500, and Country D's GDP per capita rises from $6,000 to 18,000, the ratio of GDP per capita between the two countries is unchanged. b. If a country’s GDP doubles every 50 years on a ratio scale graph against time it will rise at an increasing rate. c. Country B is growing a higher percentage rate than Country A, but Country A is 5 times richer than Country B. On a linear scale graph against time the gap between the two lines must be narrowing. d. Country E is growing at the same percentage rate as Country F, but Country E is 3 times richer than Country F. On a log scale graph against time the gap between the two lines will be constant.
Macmillan Learning Consider the table of GDP and population for several imaginary countries. $ Country Wrigleyville Longhornland Dinkytown GDP in millions of U.S. dollars Population in millions GDP per capita in U.S. dollars 297.0 175 207.00 $ 601.0 2873 Using this information, please answer the questions. If there is not enough information to answer a question, please enter -11. A. What is the GDP per capita of Longhornland in U.S. dollars? Express your answer rounded to one decimal place. 1.100 B. What is the GDP of Dinkytown in millions of U.S. dollars? Express your answer rounded to one decimal place.
Three Irish sisters are thinking about emigrating in 1870. The optionsare going to the United States or Argentina, or staying in Ireland. They cannot agree where to go and split up. One stays in Ireland, one emigrates to the United States and one to Argentina. The following table provides information on real GDP per capita in 1870, 1913, and 1929 in Ireland, theUnited States and Argentina expressed in U.S. dollars of 1990, which we will use to analyze how each did. real GDP per capita 1870 1913 1929Ireland 1,775 2,736 2,824United States 2,445 5,301 6,899Argentina 1,311 3,797 4,367 (a) Using GDP per capita as a measure of wealth, how much richer or poorer was the average Irish relative to the average American and Argentine in 1870? Express your answer in percent.
Which would one use if you wanted to understand why income changes in a country? A. development accounting B. investment accounting C. growth accounting D. consumption
“In 2022, India’s GDP was $3,386.4 billion whereas its GNP was $3,370.15 billion”. The reason for the difference in the two figures is that:A. GDP includes foreign investment, while GNP does not.B. GNP is used for developed countries, while GDP is used for developing countries.C. GDP is a measure of the overall wealth of a nation, while GNP focuses on the distribution ofincome within a country.D. GDP measures the total economic output within a country's borders, while GNP considers theincome earned by a country's residents domestically and abroad.
“In 2022, India’s GDP was $3,386.4 billion whereas its GNP was $3,370.15 billion”. The reason for the difference in the two figures is that:A. GDP includes foreign investment, while GNP does not.B. GNP is used for developed countries, while GDP is used for developing countries.C. GDP is a measure of the overall wealth of a nation, while GNP focuses on the distribution ofincome within a country.D. GDP measures the total economic output within a country's borders, Why should India be cautious about using Gross Domestic Product (GDP) as the primary measure ofeconomic growth?A. GDP does not account for the value of services, only goods.B. GDP provides an accurate reflection of income inequality.C. GDP does not consider changes in a country's population.D. GDP is unaffected by changes in government policies.
How much should you earn to make a living in different countries?How much money you think you would need for a decent living in yourcountry. Consider different situations for a household of 1, 2, 3, 4people.How that compares to GDP/capita?Build a table that would display the real difference in the wealth ofnations.
Consider the table of GDP and population for several imaginary countries. Country GDP in millions of U.S. dollars Population in millions GDP per capita in U.S. dollars Wrigleyville 549.0 199.0 Longhornland 2223 161 Dinkytown 287.00 1.000 Using this information, please answer the questions. If there is not enough information to answer a question, please enter −11. A. What is the GDP per capita of Longhornland in U.S. dollars? Express your answer rounded to one decimal place.
Consider the table of GDP and population for several imaginary countries. Country GDP in millions of U.S. dollars Population in millions GDP per capita in U.S. dollars Wrigleyville 515.0 207.0 Longhornland 2805 173 Dinkytown 287.00 1.900 Using this information, please answer the questions. If there is not enough information to answer a question, please enter −11. A. What is the GDP per capita of Longhornland in U.S. dollars? Express your answer rounded to one decimal place. $ B. What is the GDP of Dinkytown in millions of U.S. dollars? Express your answer rounded to one decimal place. $.
In your opinion, will real GDP or per capita real GDP be a better indicator in measuring well-being of a nation?

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