Explain whether GDP per capita is the most appropriate measure of economic success

Q: if A's GDP is higher than country's B GDP, does it follow that country A has a higher per capita GDP…

A: Gross domestic product (GDP) is the monetary value of all final goods and services produced within a…

Q: Calculate the growth rate in the number of hours worked per capita, total output, and output per…

A: The growth rate in the number of hours worked per capita refers to the increment in the hours worked…

Q: Suppose that virtually everyone in the United States decides to take life a little easier, and the…

A: Below is the given information: The fall in average workweek = 25%

Q: Consider the following data for country A: Population (millions) Real GDP Country ($ billions) 50…

A: The gross domestic product(GDP) of an economy is defined as the market value of all final…

Q: if a nation has a population of 100 million, a labor force of 60 million, GDP of $100 billion , then…

A:

Q: What are the top 10 GDP/capita countries in the world? Please find the latest numbers. How does…

A: GDP per capita is the total output per person produced in the country.

Q: just c and d please thank you. question c needs two graphs (says figures). gdp per capita for all…

A: The GDP growth rate is a measure of how quickly an economy is expanding. It is calculated by…

Q: Explain how a technological advancement in one sector of the economy can lead to a change in the…

A: Answer - Technological advancement in one sector of the economy can lead to change in the number of…

Q: What factors are generally considered responsible for GDP growth in developed countries? Have the…

A: Gross domestic product is the summation of a country's final goods and services. The economic…

Q: In your opinion, will real GDP or per capita real GDP be a better indicator in measuring well-being…

A: GDP is the money value of all final goods and services produced in an economy during a specific…

Q: The following table gives nominal GDP, real GDP, and the population for two years. Find per capita…

A: Gross Domestic Product  is the sum of all value added of a given economy. Value added is the…

Q: Aside from the GDP, what other measures may we use to better understand the level of development of…

A: Economic Development refers to the improvement in the living standard and quality of life eg. Life…

Q: which of the various measures of economic growth (GDP, GNP, real GDP, etc.) is most useful for…

A: The macroeconomic health refers to the country’s standard of living, well-being, and the…

Q: What is the Measure of per Capital Real GDP so important? If an economist judges the welfare of the…

A: Per capita real GDP is important because it measures the average income of people.

Q: he per capita GDP in Western Europe was 1.200 dollars in 1820 and 3.460 dollars in 1913 while in…

A: Per Capita GDP is the GDP of a nation at a given level of Population. It is given by the formula,…

Q: IS GDP important for economic growth

A: GDP (Gross Domestic Product) is the value of all final goods and services produced in the country…

Q: Economic theory suggests that we can increase productivity by

A: In economic theory, productivity refers to the output being produced given the input level.

Q: Three Irish sisters are thinking about emigrating in 1870. The options are going to the United…

A: d) The average growth rate, = (Absolute change/ Initial value)*100 = (New value- Initial value /…

Q: Use the table to answer the questions. Define productivity as GDP per worker, and please enter all…

A: GDP refers to the sum total of the market value of the final goods and services produced in a…

Q: Is there a better way to classify a country other than the use of GDP and per capita? Explain

A: Yes, there is a better way to classify a country other than the use of GDP and per capita as these…

Q: How fast is the per capita real GDP growing for india?

A: The per capita real GDP can be calculated by dividing the real GDP by the population.

Q: how do gains in worker productivity lead to gains in per capita GDP a- As workers produce more,…

A: GDP refers to the sum total of all goods and services produced within an economy during a specific…

Q: Why is it important to study productivity? How do we determine productivity? Give an example of each…

A: It is essential to concentrate on efficiency since it decides the expectations for everyday comforts…

Q: Per capita GDP is used to measure a country's standard of living. What other economic factors impact…

A: The GDP is known as gross domestic product which is the sum of all the final goods and services…

Q: The real GDP per person in a country A  has grown about 4 percent per year. When this country' GDP…

A: Real GDP per person is defined as the volume of goods and services produced in an economy by taking…

Q: If economic output is increased by increasing the number of people working in the economy, then *

A: It is said that the economy increases it output , by increasing the labors in the economy .