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Income level or GDP is Criticized as an indicator of development mainly because it take no account of the distribution of income
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- High-income countries United States Canada Japan France Middle-income countries i China India Libya Low-income countries Burundi Haiti Ethiopia Average Growth Rate (2000-2018) of GDP Population. 1.7 1.9 0.7 1.1 9.5 6.8 -1.2 3.1 1.4 9.8 0.8 1.0 0.0 0.6 0.5 1.4 1.2 3.1 1.5 2.8 Per Capita GDP 0.9 0.9 0,7 0.5 9.0 5.4 -2.4 0.0 -0.1 7.0 Assuming the 2019 per capita GDP growth rate is equal to the average growth rate (2000-2018) provided in the table, estimate 2019 per capita GDP for each of the following countries: Instructions: Round your responses to the nearest dollar. a. Japan: $[ b. Haiti: SPer capita GDP is used to measure a country's standard of living. What other economic factors impact the day-to-day life of citizens in a country?Invention of new local products plays a crucial role in raising the country's budget and increasing its income.
- A valid criticism of income level or GDP as an indicator of development is that it does not take the distribution of income into account. True or false? True Falsethe measurement method of per capita income in Turkey has been changed in 2016.What is wrong with it?What’d happen to GDP per capita if Turkey has not made this revision?Do the other countries also apply such revisions?how does happiness influence economic development and GDP through social, economic, and political factors.
- Research the following National Development Indicators and explain briefly: Gross Domestic Product (GDP) Per capita Income Income Distribution Growth Rate of Gross National Product (GNP) Percentage of Employment Structure of Labor Force Human Life Expectancy Percentage of Urban PopulationDiscuss the differences between the traditional HDI in comparison to the “new” (NHDI) formulation. In what ways do you think either one is a better measure of human development?Examples of GDP and GNP
- Discuss the merits and demerits of real GDP per capita a measure of a country’s living standardThe International Property Right Index scores countries based on the legal and political environment and how well property rights are protected. Go online and find a recent ranking. Choose three countries with high scores and three countries with low scores. Then find estimates of GDP per person in each of these six countries. What pattern do you find? Give two possible interpretations of the pattern.In 1988 the value of RGDP was $9,000.38 billion and the population was 298.32 million. What was the value of real GDP per capita? Round to the nearest whole number. Do not enter a dollar sign.
