Birkbeck Moodle123456789Nominal per capitaLuxembourgNorwayQatarSwitzerlandDenmarkAustralia10 USA24 New Zealand183 BurundiUS$108,952 184,14474,901Select one:TrueL67,77957,88455,986United Arab Emirates 55.672 7SwedenNetherlands123456HEPPP per capitaQatarLuxembourgSingaporeNorwayBruneiUnited Arab EmiratesUSA849,18346,986 946,860 1032,163 33 New Zealand183 Congo180Source: International Monetary Fund, World Economic Outlook DatabaseSwitzerlandNetherlandsAustraliaUS$88,22281,46656,69451,95948,33347.43946,86041,95040,97339,76427,130329If a firm in the USA pays workers in New Zealand in US dollars, the PPP correctionshows that those US dollars will have less value in New Zealand than in the USA.

Given that in New Zealand, Nominal income per capita = $32,163 PPP per capita = $27,130

III Birkbeck Moodle 1 2 3 Qatar 45 Nominal per capita Luxembourg Norway * Switzerland Denmark Australia United Arab Emirates Sweden Netherlands 6 7 8 9 10 USA 24 New Zealand 183 Burundi US$ 108,952 1 84,144 2 74,901 3 67,779 4 Select one: True 57,884 5 55,986 6 55.672 7 PPP per capita Qatar Luxembourg Singapore Norway Brunei United Arab Emirates USA 49,183 8 46,986 9 46,860 10 32,163 33 New Zealand 180 183 Congo Source: International Monetary Fund, World Economic Outlook Database Switzerland Netherlands Australia US$ 88,222 81,466 56,694 51,959 48,333 47.439 46,860 41,950 40,973 39,764 27,130 329 If a firm in the USA pays workers in New Zealand in US dollars, the PPP correction shows that those US dollars will have less value in New Zealand than in the USA.

III Birkbeck Moodle 1 2 3 Qatar 45 Nominal per capita Luxembourg Norway * Switzerland Denmark Australia United Arab Emirates Sweden Netherlands 6 7 8 9 10 USA 24 New Zealand 183 Burundi US$ 108,952 1 84,144 2 74,901 3 67,779 4 Select one: True 57,884 5 55,986 6 55.672 7 PPP per capita Qatar Luxembourg Singapore Norway Brunei United Arab Emirates USA 49,183 8 46,986 9 46,860 10 32,163 33 New Zealand 180 183 Congo Source: International Monetary Fund, World Economic Outlook Database Switzerland Netherlands Australia US$ 88,222 81,466 56,694 51,959 48,333 47.439 46,860 41,950 40,973 39,764 27,130 329 If a firm in the USA pays workers in New Zealand in US dollars, the PPP correction shows that those US dollars will have less value in New Zealand than in the USA.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter33: International Trade

Section: Chapter Questions

Problem 7SCQ: If the removal of trade banters is so beneficial to international economic growth, why would a...

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