Economics For Today
10th Edition
ISBN: 9781337613040
Author: Tucker
Publisher: Cengage Learning
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Chapter 15, Problem 5SQ
To determine
The items included in the calculation of
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1. China has a greater GDP value than Canada. Their national GDP is currently 2nd in the world. Why might Canada still be better off in terms of Standards of Living?
a) All of the following are correct statements.
b) Canada's spending on GDP has a greater percentage going towards health, education and social welfare programs.
c) Canada's economic growth has been more environmentally friendly and has caused less damage to their environment.
d) There is less extremes between those who have money and those who do not. Hence the wealth in Canada is more evenly spread out when compared to China.
e) Canada has a smaller population so our GDP per capita is greater.
Use the table to answer the questions. Round your answers to the nearest cent.
Country
Gross domestic product (GDP)
Population
Country A
$1.5$1.5 trillion
100100 million
Country B
$5$5 trillion
400400 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 B
Country A
Which of the following is NOT a factor of production?
A. trucks used by a furniture company for deliveries
B. a person developing a production schedule for a new product
C. financial capital, or money available to be loaned or invested
D. forested areas that have yet to be developed
Chapter 15 Solutions
Economics For Today
Ch. 15.6 - Prob. 1YTECh. 15 - Prob. 1SQPCh. 15 - Prob. 2SQPCh. 15 - Prob. 3SQPCh. 15 - Prob. 4SQPCh. 15 - Prob. 5SQPCh. 15 - Prob. 6SQPCh. 15 - Prob. 7SQPCh. 15 - Prob. 8SQPCh. 15 - Prob. 9SQP
Ch. 15 - Prob. 10SQPCh. 15 - Prob. 11SQPCh. 15 - Prob. 12SQPCh. 15 - Prob. 13SQPCh. 15 - Prob. 1SQCh. 15 - Prob. 2SQCh. 15 - Prob. 3SQCh. 15 - Prob. 4SQCh. 15 - Prob. 5SQCh. 15 - Prob. 6SQCh. 15 - Prob. 7SQCh. 15 - Prob. 8SQCh. 15 - Prob. 9SQCh. 15 - Prob. 10SQCh. 15 - Prob. 11SQCh. 15 - Prob. 12SQCh. 15 - Prob. 13SQCh. 15 - Prob. 14SQCh. 15 - Prob. 15SQCh. 15 - Prob. 16SQCh. 15 - Prob. 17SQCh. 15 - Prob. 18SQCh. 15 - Prob. 19SQCh. 15 - Prob. 20SQ
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