Assume that over the last 10 years the gross domestic product of Econostan increased by 25% while the population of the country increased by 35%. Over that time period, what likely happened to the standard of living for people living in that country?

Cross country comparisons of GDP per capita typically use purchasing power parity equivalent exchange rates which are a measure of the long run equilibrium value of an exchange rate in fact we use PPP equivalent exchange rates in this model why could using this market exchange rate which sometimes change direct dramatically in a short period of time be misleading

If a country has a per capita GDP of $3,200 and it grows at a 3.1% annual rate. How long will it take, in years, to double the standard of living in the country as measured by economists? (Round your answer to include 2 decimal places.)

A Nova Scotia Company is trying to successfully enter the cranberry market in Australia. What is the GNP or GDP for entry country (Australia), Is it growing? What is the per capita income? What is the average family income? What are the income classes and distribution?Does Australia have unexploited or underused resources that can affect future wealth?

Explain the economic development of the GDP?

Economists can do a reasonably good job of calculating GDP, GDP per capita, NDP, etc. Do you agree? Discuss some non economic sources of well being-including the quality of life, and intangible measures of life satisfaction. Are you expecting to be better off than your parents are?

In 2018, the country of Questville had a GDP of $39000.00 and the country of Mistania had a GDP of $19500.00, which is half, or 50% of Questville's GDP. If Questville grows at the slow rate of 1% for 5 years while Mistania grows at the fast rate of 6% for 5 years, what will Mistania's GDP be as a percentage of Questville's GDP in 5 years from now? Include the % sign in your answer. Does this example illustrate the concept of convergence? OYes SONO

Economic growth around the world The following table reports real income per person for several different economies in the years 1960 and 2010. It also gives each economy's average annual growth rate during this period. For example, real income per person in Niger was $945 in 1960, and it actually declined to $570 by 2010. Niger's average annual growth rate during this period was -1.01%, and it was the poorest economy in the table in the year 2010. The real income-per-person figures are denominated in U.S. dollars with a base year of 2005. The following exercises will help you to understand the different growth experiences of these economies. Economy Real Income per Person in 1960 Real Income per Person in 2010 Annual Growth Rate (Dollars) (Dollars) (Percent) Canada 12,946 35,810 2.06 United Kingdom 11,884 32,034 2.00 Korea 1,610 28,702 5.93 Hong Kong 4,518 44,070 4.66 Guatemala 1,985 3,859 1.34 Niger 945 570 -1.01   Indicate which economy…

How much economic activity is generated by YVR every year?

Based on Gross Domestic Product, discuss how increasing the labour force participation rate of female is expected to affect the Gross Domestic Product of a country