The table shows data for China and India for the year 2015. Compute the rGDP per capita to determine which country has the higher standard of living.

Q: Compare and analyze the two types of ranking (GDP and Per Capita GDP).

A: GDP stands for Gross Domestic product.

Q: The Central African Republic has a GDP of $234,000 million and a population of 4.862 million.…

A: Real GDP per capita is calculated by. dividing GDP at constant prices by the population of a country…

Q: example evidences of GDP is reliable indicator

A: Standard of living refers to the level of material prosperity and well-being experienced by…

Q: GDP deflator is used to measure living standards in the economy Group of answer choices True FalsE

A: GDP refers to the value of all final goods and services produced in an economy over a given period.…

Q: Compensation of employees is the largest component of GDP when using the expenditure approach to…

A: GDP refers to the money value of all final goods and services produced in the economy in a specific…

Q: Depreciation is included in GDP, but excluded from NNP, true or false.

A: This is because the net rise in the value of capital goods in a country over the course of a year is…

Q: The income based GDP formula states that GDP is the sum of wages, rent, and interest, and…

A: According to income based approach GDP is the sum of wages,rent and interest and profits in a given…

Q: State using supportive research whether GDP should be used as a basis to measure a country’s…

A: GDP measures a country's value added, which is calculated as the total value of all products and…

Q: GDP is reliable indictaor of standard of living with Comparing theory with practice, evidence…

A: The relationship between GDP and standard of living is a complex and often debated topic among…

Q: What are the criticisms with the two types of ranking (GDP and Per Capita)?

A: Answer in step 2.

Q: G3: Which of the following components are used in calculating Human Development Index (HDI) by UNDP?…

A: The Human Development Index (HDI) is a composite statistic developed by the United Nations…

Q: Per capita, GNI is reliable only in countries that are based on a cash economy. True or false?…

A: Gross National Income (GNI) is a measurement of a country's income. The value of the dollar earned…

Q: Suppose for a given country, the life expectancy index = 0.847, Education index = 0.568 and Income…

A: The NHDI  is also a parameter to access economic growth. It is the recent change in the HDI. hERE WE…

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

A: Introduction Gross Domestic Product (GDP) is a measure of the total value of goods and services…

Q: GNP is a good national indicator for sustainability. True False

A: The gross national product (GNP) measures the value of final goods and services produced by the…

Q: at E₁₁ In the figure at right, if the economy is in equilibrium at then A. the economy is…

A: In the figure at right, if the economy is in equilibrium at E1, thenA. the economy is underutilizing…

Q: Although they are within legal limits, Company X's operations are causing toxins to build up in the…

A: GDP measures the market value of final goods and services produced within an economy during a given…

Q: True/ False    GDP does not consider the non monetary transaction like the service provide by a…

A: GDP stands for Gross Domestic Product, which is a measure of the monetary value of all goods and…

Q: The text makes numerous cross-country comparisons, but that does not mean that we have to restrict…

A: The table presents the data for the per capita real GDP for six states in the U.S. between 1997 and…

Q: Compare and contrast the HDI fi gures for economically more developed countries and economically…

A: The Human Development Index (HDI) is a composite measure that evaluates a country's common…

Q: List five limitations of GDP as a measurement of social welfare.

A: GDP or Gross Domestic Product is the total accounted value of all the goods and services produced in…

Q: State any two limitations of per capita GDP as an index of economic welfare

A: According to the given question GDP or the gross domestic product is initially known as the…

Q: What must have happened when nominal GDP growth is lower than real GDP growth? Select one…

A: Nominal GDP (NGDP) = Real GDP (RGDP) x [GDP Deflator (F) / 100] So, % growth in NGDP = % growth in…

Q: When taking GDP on a global scale into consideration, two concerns become immediately obvious. When…

A: Gross Domestic Product, or GDP, is the total monetary worth of all products and services produced…

Q: Explain THREE (3) limitations in measuring the real GDP.

A:

Q: It is difficult to calculate the value of GDP and it does not provide an accurate measure of the…

A: GDP measures the total amount of final goods and services produced in an economy during a given…

Q: More than 4 million websites sell a combined $100 billion of pornography a year. Should these sales…

A: If the $100 billion of pornographic content is sold and purchased legally, and the transaction…

Q: Broken window fallacy pertains to: errors in estimating the GDP figures neglect of short term…

A: In economics, the broken window fallacy refers to the economic situation when an economy is…

Q: how GDP in the PHIlippines (2017-2022) affect the jollibee corporation, with reference

A: The gross domestic product (GDP) of the Philippines can have an impact on the performance of…

Q: Nominal GDP (NGDP) Real GDP (RGDP) Estimated Resident Population by Age and Sex (1991+) (Annual-Mar)…

A: Government investment is a part of the nominal GDP. Since, no other measure is given under nominal…

Q: When we consider the global GDP, we find two issues. Is it conceivable to take these factors into…

A: GDP refers to the monetary value of all final goods and services that a nation produce inside its…

Q: Which of the following are the different indicators included in the Human Development Index (HDI)?…

A: The Human Development Index is a measurement that helps to evaluate the level of individual human…

Q: In 1988 the value of RGDP was $9,000.38 billion and the population was 298.32 million. What was the…

A: Real GDP is one of the significant measures of increment in income level or economic growth. It…

Q: Cross country comparisons of GDP per capita typically use purchasing power parity equivalent…

A: Purchasing power parity (PPP) is a theory that makes the contrast of the purchasing power of…

Q: Increases in GNP per capita are often interpreted as increases in welfare. What are some problems…

A: GNP refers to gross national product, it is the total money value of all final goods and services…

Q: What was the GDP rate IN AMERICA before pandamic

A: GDP rate is the real economic growth rate at which a nation's Gross Domestic Product (GDP) grows…

Q: Per capita GDP can be defined as GDP per person. GDP per unit of capital. GDP per unit of…

A: GDP measures the market value of all final goods and services produced in an economy within a given…

Q: Which of the following is TRUE about Human Development Index (HDI)? The HDI does not include…

A: Human development index refers to the index released by UNDP. Human index analyses human development…

Q: Bonus Question: Based on the table below, calculate National income and then GDF using the income…

A: The income method of measuring national income concentrates on productivity. Land, labour, money,…

Q: Country Country Rank years of schooling (years) years of schooling (years) Income еxpectancy at…

A: Hello. Since your question has multiple countries  we will solve first three countries  for you. If…

Q: GDP is very widely used throughout the world as a measure of Economic health. Come up with your own…

A: GDP is the sum of value of goods and services produced in a nation in a particular period.

Q: 2001 the value of RGDP was $12.40 trillion, the population was 282.19 million, and the umber of…

A: Real GDP measures the value of goods and services using constant set of prices.

Q: A valid criticism of income level or GDP as an indicator of development is that it does not take the…

A: Below is the formula to compute GDP: GDP = C + I + G+ (X-M)C = Consumption I = InvestmentG =…