Having both table as a reference answer both questionsa. Is there a better way to classify a country other than the use of GDP and per capita? Explainb. How is a country classified by the World Bank and the United Nations (UN) 1. This list is based on the International Monetary Fund Outlook Database, October 2019CountryGDP (USD)CountryGDP (USD)1. United States$ 21.44 trillion6. United Kingdom$ 2.83 trillion|2. China$ 14.14 trillion7. France$ 2.71 trillion3. Japan$ 5.15 trillion8. Italy$ 1.99 trillion4. Germany$ 3.86 trillion9. Brazil$ 1.85 trillion5. India$ 2.94 trillion10. Canada$ 1.73 trillion2. This list is based on the International Monetary Fund Outlook Datab ase, April 2019CountryGDP per Capita (USD)CountryGDP per Capita (USD)1. Luxembourg$ 116,7306. Qatar$ 70,7402. Switzerland$ 86,6707. United States $ 67,4303. Ireland$ 80,2608. Iceland$ 66,6004. Macao SAR$ 80,0709. Singapore$ 64,8305. Norway$ 78,33010. Denmark$ 61,730

Having both table as a reference answer both questions a. Is there a better way to classify a country other than the use of GDP and per capita? Explain b. How is a country classified by the World Bank and the United Nations (UN)

Having both table as a reference answer both questions a. Is there a better way to classify a country other than the use of GDP and per capita? Explain b. How is a country classified by the World Bank and the United Nations (UN)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Having both table as a reference answer both questions

a. Is there a better way to classify a country other than the use of GDP and per capita? Explain

b. How is a country classified by the World Bank and the United Nations (UN)

1. This list is based on the International Monetary Fund Outlook Database, October 2019
Country
GDP (USD)
Country
GDP (USD)
1. United States
$ 21.44 trillion
6. United Kingdom
$ 2.83 trillion
|
2. China
$ 14.14 trillion
7. France
$ 2.71 trillion
3. Japan
$ 5.15 trillion
8. Italy
$ 1.99 trillion
4. Germany
$ 3.86 trillion
9. Brazil
$ 1.85 trillion
5. India
$ 2.94 trillion
10. Canada
$ 1.73 trillion
2. This list is based on the International Monetary Fund Outlook Datab ase, April 2019
Country
GDP per Capita (USD)
Country
GDP per Capita (USD)
1. Luxembourg
$ 116,730
6. Qatar
$ 70,740
2. Switzerland
$ 86,670
7. United States $ 67,430
3. Ireland
$ 80,260
8. Iceland
$ 66,600
4. Macao SAR
$ 80,070
9. Singapore
$ 64,830
5. Norway
$ 78,330
10. Denmark
$ 61,730

Definition Video Definition Overall monetary value of all the complete or final services and goods that a country can produce within its domestic boundaries in a specific period. Video

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