Economics (MindTap Course List)
Economics (MindTap Course List)
13th Edition
ISBN: 9781337617383
Author: Roger A. Arnold
Publisher: Cengage Learning
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Chapter 7, Problem 3QP
To determine

Explain the problem of comparing the two countries’ GDP.

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Go 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?
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
GDP 1. Calculate the values for the blanks in the shaded areas of the table below (identify your responses in a logical fashion in your document): Consumption Investment Business fixed investment Changes in inventories Government Net Exports Exports Imports Expenditure Components of GDP by Country, 2018 (billions of US dollars) Australia Canada Denmark Finland India Japan New Zealand 808.7 996.9 165.9 146.1 1650.6 2763.3 120.0 336.9 0.1 275.5 348.5 312.0 385.1 9.4 357.1 544.9 581.1 78.8 2.9 86.6 197.9 176.4 65.6 842.7 3.4 27.4 62.7 312.1 1202.5 11.2 981.6 Which country has the largest negative net exports? 106.8 548.6 917.1 108.8 657.0 904.4 GDP Source: UNData, UN Statistics Division, data.un.org, GDP by Type of Expenditure at current prices - US dollars 2. Based on the information in the table and your calculations for Question #1: Do any countries have positive net exports? Which one(s)? 49.1 0.1 38.4 58.2 58.1 UK 1870.5 487.3 5.8 528.3 856.8 907.1 US 13998.7 4260.7 54.7 2904.3…
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