Principles of Economics, 7th Edition (MindTap Course List)
7th Edition
ISBN: 9781285165875
Author: N. Gregory Mankiw
Publisher: Cengage Learning
expand_more
expand_more
format_list_bulleted
Question
Chapter 23, Problem 8QR
To determine
Why it is desirable to have large GDP .
Expert Solution & Answer
Trending nowThis is a popular solution!
Students have asked these similar questions
Why do you suppose that U.S. GDP is so much higher today than 50 or 100 years ago?
What factors can lead to an increase in a
country's Gross Domestic Product (GDP)?
Is it possible for GDP to rise while at the same time per capita GDP is falling? Is it possible for GDP to fall while per capita GDP is rising?
Chapter 23 Solutions
Principles of Economics, 7th Edition (MindTap Course List)
Ch. 23.1 - Prob. 1QQCh. 23.2 - Prob. 2QQCh. 23.3 - Prob. 3QQCh. 23.4 - Prob. 4QQCh. 23.5 - Prob. 5QQCh. 23 - Prob. 1QRCh. 23 - Prob. 2QRCh. 23 - Prob. 3QRCh. 23 - Prob. 4QRCh. 23 - Prob. 5QR
Ch. 23 - Prob. 6QRCh. 23 - Prob. 7QRCh. 23 - Prob. 8QRCh. 23 - Prob. 1QCMCCh. 23 - Prob. 2QCMCCh. 23 - Prob. 3QCMCCh. 23 - Prob. 4QCMCCh. 23 - Prob. 5QCMCCh. 23 - Prob. 6QCMCCh. 23 - Prob. 1PACh. 23 - Prob. 2PACh. 23 - Prob. 3PACh. 23 - Prob. 4PACh. 23 - Prob. 5PACh. 23 - Prob. 6PACh. 23 - Prob. 8PACh. 23 - Prob. 9PACh. 23 - Prob. 10PACh. 23 - Prob. 11PA
Knowledge Booster
Similar questions
- 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?arrow_forwardWhat components of GDP tend to decline significantly during recessions (particularly during the 2008 recession), and what GDP components rise during expansion?arrow_forwardFor the country of Madagascar government spending was $15,000 in 2007. Consumption was $88,000, investment was $10,250, exports were $2500, and imports were $3500. What was GDP equal to?arrow_forward
- Briefly discuss five reasons why a rise in real Gross Domestic Product within a country over time does not necessarily mean that living standards have improved.arrow_forwardAs you learned in the most recent chapter, GDP is the broadest measure of economic health in the U.S. Therefore, the discussion forum for the week will ask you to discuss GDP in your own words. Specifically, Business leaders, Government officials, and investors are often fixated on GDP results and economic growth. Why? What does it matter? The same level of interest is given to productivity. What is it and why does it matter in the scheme of things? What does GDP fail to tell us?arrow_forwardU.S. real GDP is substantiality higher today than it was 60 years ago. What does this tell us, and what does it not tell us, about the well-being of U.S. residents.arrow_forward
- U.S. nominal GDP is substantially higher today than it was 60 years ago. What does this tell us about the well-being of U.S. residents?arrow_forwardGo online and find the current GDP for countries, which are the largest countries in the world in terms of GDP. Find a PPP GDP, which are the largest countries now? Why the difference?arrow_forwardWhat is GDP? What is real GDP ? What is per capita GDP ? Why is our GDP shrinking in the ongoing Corona Virus Crisis? What is a clear indication that the GDP will be decreasing?arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Economics (MindTap Course List)EconomicsISBN:9781337617383Author:Roger A. ArnoldPublisher:Cengage Learning
Economics (MindTap Course List)
Economics
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Cengage Learning