low birth weight, higher rates lo Table 3 GDP and the Quality of Life The table shows GDP per person and three other measures of the quality of life for twelve major countries. Real GDP per Country Person United States $54,941 Life Expectancy 80 years Average Years Overall Life of Schooling (0 to 10 scale) 13 years 7.0 Germany 46,136 81 14 7.1 Japan 38,986 84 13 5.9 Source: Human Development Indices and Indicators: 2018 Statistical Update, United Nations. Real GDP is Russia 24,233 71 12 5.6 Mexico for 2017, expressed in 2011 dollars. Average years of schooling is among adults 25 years and older. 16,944 77 9 6.4 China 15,270 76 8 Brazil 13,755 76 0000 5.1 8 6.3 Indonesia 10,846 69 8 5.1 India 6.353 69 6 4.0 Pakistan 5,311 67 LO 5 5.8 Nigeria 5,231 54 Bangladesh 3,677 73 66 5.3 4.3 A

ENGR.ECONOMIC ANALYSIS
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Goods and services that are not sold in markets, such as food produced and consumed at home, are generally not included in GDP. How might this cause the numbers in the second column of Table 3 to be misleading in a comparison of the economic well-being of the United States and India? Explain.

low birth weight, higher rates
lo
Table 3
GDP and the Quality of Life
The table shows GDP per
person and three other
measures of the quality of life
for twelve major countries.
Real GDP per
Country
Person
United States
$54,941
Life
Expectancy
80 years
Average Years
Overall Life
of Schooling
(0 to 10 scale)
13 years
7.0
Germany
46,136
81
14
7.1
Japan
38,986
84
13
5.9
Source: Human Development Indices and Indicators:
2018 Statistical Update, United Nations. Real GDP is
Russia
24,233
71
12
5.6
Mexico
for 2017, expressed in 2011 dollars. Average years of
schooling is among adults 25 years and older.
16,944
77
9
6.4
China
15,270
76
8
Brazil
13,755
76
0000
5.1
8
6.3
Indonesia
10,846
69
8
5.1
India
6.353
69
6
4.0
Pakistan
5,311
67
LO
5
5.8
Nigeria
5,231
54
Bangladesh
3,677
73
66
5.3
4.3
A
Transcribed Image Text:low birth weight, higher rates lo Table 3 GDP and the Quality of Life The table shows GDP per person and three other measures of the quality of life for twelve major countries. Real GDP per Country Person United States $54,941 Life Expectancy 80 years Average Years Overall Life of Schooling (0 to 10 scale) 13 years 7.0 Germany 46,136 81 14 7.1 Japan 38,986 84 13 5.9 Source: Human Development Indices and Indicators: 2018 Statistical Update, United Nations. Real GDP is Russia 24,233 71 12 5.6 Mexico for 2017, expressed in 2011 dollars. Average years of schooling is among adults 25 years and older. 16,944 77 9 6.4 China 15,270 76 8 Brazil 13,755 76 0000 5.1 8 6.3 Indonesia 10,846 69 8 5.1 India 6.353 69 6 4.0 Pakistan 5,311 67 LO 5 5.8 Nigeria 5,231 54 Bangladesh 3,677 73 66 5.3 4.3 A
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