Bundle: Essentials Of Economics, Loose-leaf Version, 8th + Lms Integrated Mindtap Economics, 1 Term (6 Months) Printed Access Card
8th Edition
ISBN: 9781337368087
Author: N. Gregory Mankiw
Publisher: Cengage Learning
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Question
Chapter 15, Problem 10PA
To determine
The difference in
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Is GDP per capita a good measure of a country's standard of living? Is GDP a good measure of a country's well-being? How should a country’s well-being be measured?
Consider the table of GDP and population for several imaginary countries.
GDP in millions of U.S. dollars
533.0
2275
Country
Wrigleyville
Longhornland
Dinkytown
$ 18.8
Using this information, please answer the questions. If there is not enough information to answer a question, please enter –11.
A. What is the GDP per capita of Longhornland in U.S. dollars? Express your answer rounded to one decimal place.
Population in millions GDP per capita in U.S. dollars
113.0
121
173.00
276800
1.600
B. What is the GDP of Dinkytown in millions of U.S. dollars? Express your answer rounded to one decimal place.
Incorrect
How useful is GDP as a measure for countries' well-being and why? What other
measures could be included in comparing well-being across countries? If you were to
design an index to measure well-being in a country, what factors would you include
in the index?
Chapter 15 Solutions
Bundle: Essentials Of Economics, Loose-leaf Version, 8th + Lms Integrated Mindtap Economics, 1 Term (6 Months) Printed Access Card
Ch. 15.1 - Prob. 1QQCh. 15.2 - Prob. 2QQCh. 15.3 - Prob. 3QQCh. 15.4 - Prob. 4QQCh. 15.5 - Prob. 5QQCh. 15 - Prob. 1CQQCh. 15 - Prob. 2CQQCh. 15 - Prob. 3CQQCh. 15 - Prob. 4CQQCh. 15 - Prob. 5CQQ
Ch. 15 - Prob. 6CQQCh. 15 - Prob. 1QRCh. 15 - Prob. 2QRCh. 15 - Prob. 3QRCh. 15 - Prob. 4QRCh. 15 - Prob. 5QRCh. 15 - Prob. 6QRCh. 15 - Prob. 7QRCh. 15 - Prob. 8QRCh. 15 - Prob. 1PACh. 15 - Prob. 2PACh. 15 - Prob. 3PACh. 15 - Prob. 4PACh. 15 - Prob. 5PACh. 15 - Prob. 6PACh. 15 - Prob. 7PACh. 15 - Prob. 9PACh. 15 - Prob. 10PACh. 15 - Prob. 11PACh. 15 - Prob. 12PA
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