EBK MACROECONOMICS FOR TODAY
9th Edition
ISBN: 8220101425966
Author: Tucker
Publisher: CENGAGE L
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Question
Chapter 20, Problem 2SQP
To determine
The problems with GDP per capita while comparing rich and poor countries.
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In your opinion, will real GDP or per capita real GDP be a better indicator in measuring well-being of a nation?
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According to the 2016 Human Development Report (see pp. 198-201), Pakistan fares more poorly in the HDI ranking (148) than in the GNI per capita (PPP US$) ranking (138). Argentina fares better in the HDI ranking (45) than GDP per capita (57). Are these results surprising? How would you explain the discrepancy in the rankings?
Chapter 20 Solutions
EBK MACROECONOMICS FOR TODAY
Ch. 20.2 - Prob. 1GECh. 20 - Prob. 1SQPCh. 20 - Prob. 2SQPCh. 20 - Prob. 3SQPCh. 20 - Prob. 4SQPCh. 20 - Prob. 5SQPCh. 20 - Prob. 6SQPCh. 20 - Prob. 7SQPCh. 20 - Prob. 8SQPCh. 20 - Prob. 9SQP
Ch. 20 - Prob. 10SQPCh. 20 - Prob. 11SQPCh. 20 - Prob. 12SQPCh. 20 - Prob. 1SQCh. 20 - Prob. 2SQCh. 20 - Prob. 3SQCh. 20 - Prob. 4SQCh. 20 - Prob. 5SQCh. 20 - Prob. 6SQCh. 20 - Prob. 7SQCh. 20 - Prob. 8SQCh. 20 - Prob. 9SQCh. 20 - Prob. 10SQCh. 20 - Prob. 11SQCh. 20 - Prob. 12SQCh. 20 - Prob. 13SQCh. 20 - Prob. 14SQCh. 20 - Prob. 15SQCh. 20 - Prob. 16SQCh. 20 - Prob. 17SQCh. 20 - Prob. 18SQCh. 20 - Prob. 19SQCh. 20 - Prob. 20SQ
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- Per 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?arrow_forwardHow much should you earn to make a living in different countries?How much money you think you would need for a decent living in yourcountry. Consider different situations for a household of 1, 2, 3, 4people.How that compares to GDP/capita?Build a table that would display the real difference in the wealth ofnations.arrow_forwardIs there a better way to classify a country other than the use of GDP and per capita? Explainarrow_forward
- Consider the table of GDP and population for several imaginary countries. Country GDP in millions of U.S. dollars Population in millions GDP per capita in U.S. dollars Wrigleyville 511.0 189.0 Longhornland 2209 167 Dinkytown 243.00 1.100 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. $ B. What is the GDP of Dinkytown in millions of U.S. dollars? Express your answer rounded to one decimal place. $arrow_forwardAside from the GDP, what other measures may we use to better understand the level of development of economies? Why should we utilize this particular measure?arrow_forwardConsider the table of GDP and population for several imaginary countries. Country GDP in millions of U.S. dollars Population in millions GDP per capita in U.S. dollars Wrigleyville 549.0 199.0 Longhornland 2223 161 Dinkytown 287.00 1.000 Using this information, please answer the questions. If there is not enough information to answer a question, please enter −11. A. What is the GDP per capita of Longhornland in U.S. dollars? Express your answer rounded to one decimal place.arrow_forward
- Consider the following data for country A: Population (millions) Real GDP Country ($ billions) 50 A Calculate per capita real GDP (Enter your response rounded to the nearest integer.) Suppose that during the next 10 years, real GDP triples and population doubles in country A. What will per capita real GDP after 10 years have passed? (Enter your response rounded to the nearest integer.) $.arrow_forwardUnits Current Reales (million) Million 2000= 100 Reales Reales, 2000 2000 Nominal GDP Population GDP deflator Nominal GDPpc Real GDPpc Source: World Bank, World Development Indicators (online) 1,199,092 174.5 100.0 6,840 6,840 2017 How long would it take for real GDPpc to double? 6,559,940 209.3 369.4 28,299 7,661 What does this 0.9% growth in real GDPpc mean in terms long-term standard of living in Brazil? Average annual growth (%) 14.0 1.4 10.6 11.5 0.9 Iarrow_forwardjust c and d please thank you. question c needs two graphs (says figures). gdp per capita for all countries is in second image. 1970 to 2019 is 50 yearsarrow_forward
- Two students are discussing the pros and cons of different measures of economic development. “GDP per capita,” declares the first, “is the only true measure of how developed a country’s economy is.’ The second student counters, “I disagree. The only true measure of a country’s economic development is its people’s quality of life, regardless of its GDP.” Why is each of these students incorrect?arrow_forwardDiscuss whether GDP per capita is the most appropriate measure of economic successarrow_forwardWhat is the difference between industrially advanced countries (IACs) and less-developed countries (LDCs)? List five IACs and five LDCs.arrow_forward
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