Principles Of Economics 2e
2nd Edition
ISBN: 9781680920864
Author: Timothy Taylor, Steven A. Greenlaw, David Shapiro
Publisher: MCGRAW-HILL HIGHER EDUCATION
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Textbook Question
Chapter 19, Problem 25CTQ
Cross country comparisons of
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We saw in class that PPP conversion factors are different from market exchange rates because they are based on the actual
purchasing powers of currencies. The table below shows the GDP of different countries in their local currency along with their GDP at
the market exchange rate, population, and the PPP conversion factor.
country
GDP in 2017
GDP (US$s, at market ex.) PPP factor
роpulation
Japan
544¥ trillion
$4.86 trillion
105 ¥/$
127.5 million
India
1717 trillion
$2.65 trillion
20 7/$
1339 million
|Мexico
22 trillion pesos
$1.16 trillion
11 pesos/$
129 million
Which country has the higher GDP per capita measured in purchasing power, India or Mexico?
Mexico's average income is more than double India's
India's average income is more than double Mexico's
Mexico and India have similar average incomes
not enough information is provided
Kindly answer in narrative form. Please cite your sources. Thank you so much!1. What are the GNP and Per capita GNP in Denmark?2. What Type of Currency does Denmark have? and what is the relation to US Currency?
Suppose India has a GDP of 196 trillion Indian rupees, and a population of 1.3 billion. The exchange rate is 75 rupees per U.S. dollar. Calculate the GDP per capita of India as measured in U.S. dollars.
Chapter 19 Solutions
Principles Of Economics 2e
Ch. 19 - Country A has export sales of 20 billion,...Ch. 19 - Which of the following are included in GDP, and...Ch. 19 - Using data from Table 19.5 how much of the nominal...Ch. 19 - Without looking at Table 19.7, return to Figure...Ch. 19 - According to Table 19.7, how often have recessions...Ch. 19 - According to Table 19.7, how long has the average...Ch. 19 - According to Table 19.7, how long has the average...Ch. 19 - Is it possible for GDP to rise while at the same...Ch. 19 - The Central African Republic has a GDP of...Ch. 19 - Explain briefly whether each of the following...
Ch. 19 - What are the main components of measuring GDP with...Ch. 19 - What are the main components of measuring GDP with...Ch. 19 - Would you usually expect GDP as measured by what...Ch. 19 - Why must you avoid double counting when measuring...Ch. 19 - What is the difference between a series of...Ch. 19 - How do you convert a series of nominal economic...Ch. 19 - What are typical GDP patterns for a high-income...Ch. 19 - What are the two main difficulties that arise in...Ch. 19 - List some of the reasons why economists should not...Ch. 19 - U.S. macroeconomic data are among the best in the...Ch. 19 - What does GDP not tell us about the economy?Ch. 19 - Should people typically pay more attention to...Ch. 19 - Why do you suppose that U.S. GDP is so much higher...Ch. 19 - Why do you think that GDP does not grow at a...Ch. 19 - Cross country comparisons of GDP per capita...Ch. 19 - Why might per capita GDP be only an imperfect...Ch. 19 - How might you measure a green GDP?Ch. 19 - Last year, a small nation with abundant forests...Ch. 19 - The prime interest rate is the rate that banks...Ch. 19 - A mortgage 105m is a loan that a person makes to...Ch. 19 - Ethiopia has a GDP of 8 billion (measured in U.S....Ch. 19 - In 1980, Denmark had a GDP of 70 billion (measured...Ch. 19 - The Czech Republic has 3 GDP of 1,800 billion...
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