Answered: GDP as a general indicator of general…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Similar questions

GDP is very widely used throughout the world as a measure of Economic health. Give an example, either real or a scenario, that shows a flaw with using GDP as the only indicator of the well being of a society.
Which approach to calculating GDP focuses on summing the value added at each stage of production? a) Expenditure approach b) Income approach c) Output approach d) Value - added approach
As you learned in the most recent chapter, GDP is the broadest measure of economic health in the U.S. Therefore, the discussion forum for the week will ask you to discuss GDP in your own words. Specifically, Business leaders, Government officials, and investors are often fixated on GDP results and economic growth. Why? What does it matter? The same level of interest is given to productivity. What is it and why does it matter in the scheme of things? What does GDP fail to tell us?
The table below presents a brief summary of City A’s total spending, local GDP, and population changes. Read the table and answer the following questions. 2010 2020 Total spending ($ million) 89 104.12 Local GDP ($ millions) 110 134 Population 50,000 56,275 CPI deflators (2012=1) 0.96 1.05 Calculate % change for City A’s total spending from 2010 to 2020 in current dollars. *Results round to the nearest 2 decimal places. Calculate % change for City A’s total spending from 2010 to 2020 in constant dollars. *Results round to the nearest 2 decimal places. Why does % change calculated from constant dollars differ from % change calculated from current dollar? Calculate per capita spending in 2010 and 2020, respectively, using constant dollars. *Results round to the nearest dollar. 2010 per capita spending: 2020 per capita spending: Calculate the compound annual growth rate of per capita spending from 2010 to 2020…
Calculate GDP given the following. Please leave off the dollar sign in your answers. Item Quantity Price Apples 10 $2 Oranges 20 $2 Bananas 30 $1
When considering GDP on a global scale, two issues stand out as particularly pressing. What exactly are these factors and whether or not they may be used when comparing GDPs?
Find evidence that can explain how the difference in GDP influences the health of people who reside in that country. Here, you are identifying a determinant of health and at least one risk factor. Summarize what you found and justify the determinant of health and risk factor. Cite in - in text citation . explain in 4 sentences or more.
If the nominal GDP is stated as 190 and the Real GNP is 10 find the GNP deflator?
What does GDP count and not count that it should? Is GPI is a better indicator? Although GPI attempts to accounts for many of these things, is it a better option? Why or why not?
Explain why GDP may not always be the best measure of economic welfare.
GDP does not count productive services, such as child care, food preparation, cleaning, and laundry, provided within the household. Why are these things excluded? Is GDP a sexist measure? Does it understate the productive contributions of women relative to men? Discuss.
Which of the following is TRUE about Human Development Index (HDI)? The HDI does not include economic aspect of life in a certain country. The ranking of the countries of HDI is same as the ranking of GDP. о The range of the value is between 0 to 1. O All of the above

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GDP as a general indicator of general health of the economy is misleading. Discuss.