Question

Explain why GDP per capita comparisons among nations are not a perfect measure of differences in...

Explain why GDP per capita comparisons among nations are not a perfect measure of differences in economic wellbeing.

Business   Economics   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

The GDP one of the measures to compare the economic development between the countries however the GDP alone the only parameters to measures the economic growth of the countries because of GDP measures only out increse in terms of the quantity but there are subjective factors issues that GDP do not take into consideration.

Health.Education, Gender inequality issue other relative matters are excluded in GDP calculations. The PQLI, HDI, SPI such index measure the social well beings of the nations.

In any case, the country which has higher GDP is got less rank in this index.

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Is GDP per capita a good measure of a country's standard of living? Is GDP a...
Is GDP per capita a good measure of a country's standard of living? Is GDP a good measure of a countries wellbeing? How should a country’s well being be measured? What are your suggestions to boost the long run economic growth and living standards in the US?
Explain why GDP is not an accurate measure of wellbeing.
Explain why GDP is not an accurate measure of wellbeing.
This week’s discussion topic is about Gross Domestic Product (GDP), Per Capita GDP and Quality of...
This week’s discussion topic is about Gross Domestic Product (GDP), Per Capita GDP and Quality of Life. GDP is the market value of all final goods and services produced in an economy in a year. Per Capita GDP is GDP/Population and shows how much of total GDP is theoretically available to each individual in the society. Per Capita GDP is the normal measure of Standard of Living when comparing nations. Quality of Life has no standard definition. It is broader...
This week’s discussion topic is about Gross Domestic Product (GDP), Per Capita GDP and Quality of...
This week’s discussion topic is about Gross Domestic Product (GDP), Per Capita GDP and Quality of Life. GDP is the market value of all final goods and services produced in an economy in a year. Per Capita GDP is GDP/Population and shows how much of total GDP is theoretically available to each individual in the society. Per Capita GDP is the normal measure of Standard of Living when comparing nations. Quality of Life has no standard definition. It is broader...
The convergence hypothesis says that: differences in real GDP per capita do not have much effect...
The convergence hypothesis says that: differences in real GDP per capita do not have much effect on living standards in the long run. differences in real GDP per capita among countries tend to narrow over time. differences in real GDP per capita among countries tend to increase over time. aggregate production functions in different countries will all be the same in the long run.
1. Describe what GDP per capita measure and Sources of productivity growth. 2. Explain how government...
1. Describe what GDP per capita measure and Sources of productivity growth. 2. Explain how government policy affects economic growth. 3. Describe briefly the major impediments to policy success. 4. Explain in your own words why we trade with other countries.
GDP per capita is a good measure of economic well-being of a country's population. True or...
GDP per capita is a good measure of economic well-being of a country's population. True or False? Provide an explanation about why you believe that it is true or false.
1. Explain the difference between real GDP and nominal GDP. 2. Discuss the reasons that explain...
1. Explain the difference between real GDP and nominal GDP. 2. Discuss the reasons that explain why GDP is not a perfect measure of economic activity in a country (hint, there are four main reasons 3. What does GDP per capita tell us about a nation's economy? What issues does conventional GDP methodology exclude? 4. Explain how “good institutions” enhance the incentives for entrepreneurship 5. Why are property rights important for economic development?
1.Why is GDP per capita a better measure of well-being in a country than its natural...
1.Why is GDP per capita a better measure of well-being in a country than its natural resources? 2.When would you use the Rule of 72? 3.Say that two countries had GDP per capita of $10,000 50 years ago and today one has GDP per capita of $20,000 and the other of $40,000. Explain why this second country had or did not have twice the annual growth rate of the first country. 4.For this question, first calculate and report the per...
1. True or false? a) GDP per capita is a measure of economic prosperity. b) High...
1. True or false? a) GDP per capita is a measure of economic prosperity. b) High growth rates in GDP per capita can be accompanied by high inflation. c) Nominal wages are adjusted for inflation, real wages are not. d) A mismatch of skills generally results from cyclical unemployment. e) The Phillips curve suggests negative relationship between inflation and GDP f) A trade deficit is acceptable in the short run, but is troublesome in the long run.
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT