TOP 10The World's Biggest Economies for 2019 and 2020Nominal GDP in USD TrillionUSA21.4822.336China14.1714.678Japan5.225.424Germany44.124.487UK52.963.1986.India2.843.304France2.813.125Italy8.2.112.279Brazil6.1.932.201Canada 101.821.89820192020 Based on your knowledge of GDP, what conclusion could be drawn from the chart above?O China produces more final products than JapanCanada produces more final products than GremanyO China has a higer standard of living than GermanyO The United States has the highest standard of living in the world

Answered: TOP 10 The World's Biggest Economies…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

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1 of 10 In 1980, Denmark had a GDP of $70 billion (measured in U.S. dollars) and a population of 5.1 million. In 2000, Denmark had a GD U.S. dollars) and a population of 5.3 million. By what percentage did Denmark's GDP per capita rise between 1980 and 2000? 45.40% 119.95% O 128% 219%
Country Real GDP(millions of dollars) Population(millions of people) Country A $3,850 9.05 Country B $3,850 4.21 .Based on the table above, which country has a higher standard of living and why? A. Country B has a higher standard of living because growth in GDP is greater in Country B than in Country A. B. Both countries have the same standard of living because their real GDP is equivalent. C. Country A has a higher standard of living because growth in GDP is greater in Country A than in Country B. D. Country A has a higher standard of living because their real GDP per capita is higher. E. Country B has a higher standard of living because their real GDP per capita is higher.
From the World's Largest Economies 2016 visual, we can conclude which of the following to be the most true? A) China had the highest living standards in the world. B) People in Japan had higher living standards than people in Italy. C) The United States has had the highest living standards in the world for over a decade. D) There is no correlation between GDP and GDP per capita when measuring living standards.
1960 South Korea Mexico 2012 South Korea Mexico Population, total (in millions) 25 38.7 50 120.8 e GDP (in billions of constant 2005 US$) 27.7 127.6 1165.3 1031.1 Source: World Development Indicators. Calculate per capita GDP for each country and year. Don't use commas or dollar signs, and round to the nearest dollar. • South Korea, 1960: 1108 • Mexico, 1960: type your answer... • South Korea: 2012: 23306 • Mexico, 2012: type your answer... • Did the standard of living rise in both countries? (type either yes or no): type your answer... • Which country saw the greater increase in living standards? type your answer... According to the PPF model, why might this country have had a greater increase in living standards? (Type the letter that corresponds to the best answer.) a. This country created more capital. b. This country's population increased more. c. This country adopted more advanced tecnhology. d. All of the above are consistent with the PPF model and the data. e. (a) and (c) only…
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You were familiarized with GDP in this module. Sometimes, economic topics seem pretty remote and not immediately related to our everyday lives. However, think about COVID 19 in 2020. While many Americans were affected by the virus, many more were impacted by the decreased economic activity and new ways of doing business put in place trying to contain the virus. Which of the changes made do you think might end up being permanent and kept in place after the pandemic is contained?
QUESTION 6 Table 1. Number of hours labor needed to produce a pizza a burger United States 2 hs 2 hs Italy 1 hs 4 hs Refer to Table 1. Which country has the absolute adva
The US and Peru are the only countries in the world and they both produce cars and haircuts. The table below gives you the data on the quantity produced, the unit price of each item and the value of output for each sector. Cars Haircuts GDP The US (currency = US$) Quantity (units) 1000 2000 Price (USS) 100 5 Value of Output (USS) 100,000 10.000 Peru (currency = Sol) Quantity (units) 200 4000 What is the GDP of Peru in USS at the most likely market exchange rate? the GDP of Peru in US$ is: 240,000/2-US$120,000 the GDP of Peru in US$ is: 160,000/8=US$20,000 the GDP of Peru in US$ is: 160,000/2-US$80,000 the GDP of Peru in US$ is: 240,000/8-US$30,000 Price (soles) 800 20 Value of Output (soles) 160,000 80,000
Use the table to answer the questions. Round your answers to the nearest cent. Country A Country CountryGross domestic product (GDP) Population 7 trillion $1.25 trillion 350 million 50 million What is the GDP per capita for Country A? What is the GDP per capita for Country B? Which country has the largest average GDP per capita? Country A O Country B
Analyze the countries given in the table comparatively by taking into account the indicators ofFractionalization and HDI. Countries Religion Index Ethnic Index HDI Country Rank HDI Ireland 0.16 0.12 0.96 2 New Zealand 0.81 0.40 0.93 14 Sudan 0.43 0.71 0.43 185

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TOP 10 The World's Biggest Economies for 2019 and 2020 Nominal GDP in USD Trillion USA 21.48 22.336 China 2 14.17 14.678 Japan 3 5.22 5.424 Germany 4 4.12 4.487 UK 2.96 3.198 6. India 2.84 3.304 France 2.81 3.125 Italy 8. 2.11 2.279 Brazil 6. 1.93 2.201 Canada 10 1.82 1.898 2019 2020