Using the most recent 20-year period of GDP data, assess the main sources of economic growth in one Caribbean economy. (Line graph should be used to depict the data)
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- Retrieve the following data from The World Bank database (http //databank.worldbank. org/data/ home.aspx) for India, Spain, and South Africa for the most recent year available: • GDP in constant international dollars or PPP • Population • GOP per person in constant international dollars • Mortality rate, infant (per 1,000 live births) • Health expenditure per capita (current U.S. dollars) • Life expectancy at birth, total (years)What is the difference between a series of economic data over time measured in nominal terms versus the same data series over time measured in real terms?Demography can have important economic effects. The United States has an aging population. Explain one economic benefit and one economic cost of an aging population as well as of a population that is very young.
- Ethiopia has a GDP of 8 billion (measured in U.S. dollars) and a population of 55 million. Costa Rica has a GDP of 9 billion (measured in U.S. dollars) and a population of 4 million. Calculate the per capita GDP for each country and identify which one is higher.Cross country comparisons of GDP per capita typically use purchasing power parity equivalent exchange rates, which are a measure of the long run equilibrium value of an exchange rate. In fact, we used PPP equivalent exchange rates in this module. Why could using market exchange rates, which sometimes change dramatically in a short period of time, be misleading?Prepare a chart that compares India, Spain, and South Africa based on the data you find. Describe the key differences between the countries. Rank these as high-, medium-, and low-income countries, explain what is surprising or expected about this data.
- How might you measure a green GDP?Over the past 50 years, many countries have experienced an annual growth rate in real GDP per capita greater than that of the United States. Some examples are China, Japan, South Korea, and Taiwan. Does that mean the United States is regressing relative to other countries? Does that mean these countries will eventually overtake the United States in terms of the growth rate of real GDP per capita? Explain.How do you convert a series of nominal economic data over time to real terms?
- In 1980, Denmark had a GDP of 70 billion (measured in U.S. dollars} and a population of 5.1 million. In 2000, Denmark had 3 GDP of 160 billion (measured in U.S. dollars} and a population of 5.3 million. By what percentage did Denmarks GDP per capita rise between 1980 and 2000?Using the research skills you have acquired, retrieve the following data from The World Bank database (http://databank.worldbank.orgdata home.aspx) for India, Spain, and South Africa for 20102015, if available: • Telephone lines • Mobile cellular subscriptions • Secure Internet servers (per one million people) • Electricity production (kWh) Prepare a chart that compares these three countries. Describe the key differences between the countries.How is GDP per capita calculated differently from labor productivity?
