Nominal gross domestic product (GDP) is a poor measure of economic growth because it does not count investment by private businesses. overstates the importance of consumer spending. does not include government spending Oignores imports and exports. does not consider changes in prices or population growth. OOO

Real GDP per person is equal to: a. average labour productivity multiplied by the share of the population employed b. average labour productivity multiplied by the total population c. average labour productivity multiplied by the share of the population unemployed d.average labour productivity multiplied by disposable income

​The standard of living in a nation is measured by: ​A. the rate of growth of real gross domestic product per capita. B. ​its employment rate. C. the rate of growth of nominal gross domestic product. D. ​its unemployment rate E. its inflation rate

83. Malthus assumed that population growth would be a GDP. Recent data suggests function of per-capita true. A. positive; this is B. positive; the opposite is C. negative; this is D. negative; the opposite is

Suppose an economy's real GDP is $5,000 billion. There are 125 million workers, each working an average of 2,000 hours per year. a. What is labor productivity per hour in this economy?

A country's standard of living is best measured by O the population growth rate. O real GDP. O real GDP per capita. the inflation rate, ASUS

Answer only correct A country had real GDP per person of 5800 in 2005 and has had average real GDP growth of 8.4% per year, over the next 15 years. What is real GDP at the end of that period?

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1. 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 his 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 Canada United Kingdom Korea Hong Kong Guatemala Niger Real Income per Person in 1960 Real Income per Person in 2010 (Dollars) (Dollars) 35,810 12,946 11,884 32,034 1,610 28,702 4,518 44,070 1,985 3,859 945 570 Annual Growth Rate (Percent) 2.06 2.00 5.93 4.66 1.34 -1.01

In 2003, the GDP of UK was $7200. In 2004, the GDP of UK was $11400. What is the growth rate for the Britain economy?