Introduction Global inequality is the systematic differences in wealth and power among countries. The World Bank uses gross domestic product to measure global inequality. This measure ignores internal inequalities, and comparing only on this basis ignores noncash transactions.

Question

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Answer 1

Question

Chapter 9, Problem 1CC-P210

Summary Introduction

Introduction

Global inequality is the systematic differences in wealth and power among countries. The World Bank uses gross domestic product to measure global inequality. This measure ignores internal inequalities, and comparing only on this basis ignores noncash transactions.

Expert Solution & Answer

Explanation of Solution

Answer and explanation

The World Bank measures global inequality by comparing the gross domestic product (GDP) of countries. It has a rankings of high income, upper middle income, lower middle income, and lower income, and measures mobility between categories. The GDP is an average per citizen statistic, and ignores any inequalities that are internal to a country. These internal gaps are growing in most developed countries. Another problem with this way of ranking is that it does not take into account the noncash transactions that happen inside countries when farmers barter goods and services, leading so some countries to be unfairly labeled lower income.

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Answer 2

Question

Chapter 9, Problem 1CC-P210

Summary Introduction

Introduction

Global inequality is the systematic differences in wealth and power among countries. The World Bank uses gross domestic product to measure global inequality. This measure ignores internal inequalities, and comparing only on this basis ignores noncash transactions.

Expert Solution & Answer

Explanation of Solution

Answer and explanation

The World Bank measures global inequality by comparing the gross domestic product (GDP) of countries. It has a rankings of high income, upper middle income, lower middle income, and lower income, and measures mobility between categories. The GDP is an average per citizen statistic, and ignores any inequalities that are internal to a country. These internal gaps are growing in most developed countries. Another problem with this way of ranking is that it does not take into account the noncash transactions that happen inside countries when farmers barter goods and services, leading so some countries to be unfairly labeled lower income.

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Answer 3

Question

Chapter 9, Problem 1CC-P210

Summary Introduction

Introduction

Global inequality is the systematic differences in wealth and power among countries. The World Bank uses gross domestic product to measure global inequality. This measure ignores internal inequalities, and comparing only on this basis ignores noncash transactions.

Expert Solution & Answer

Explanation of Solution

Answer and explanation

The World Bank measures global inequality by comparing the gross domestic product (GDP) of countries. It has a rankings of high income, upper middle income, lower middle income, and lower income, and measures mobility between categories. The GDP is an average per citizen statistic, and ignores any inequalities that are internal to a country. These internal gaps are growing in most developed countries. Another problem with this way of ranking is that it does not take into account the noncash transactions that happen inside countries when farmers barter goods and services, leading so some countries to be unfairly labeled lower income.

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Answer 4

Question

Chapter 9, Problem 1CC-P210

Summary Introduction

Introduction

Global inequality is the systematic differences in wealth and power among countries. The World Bank uses gross domestic product to measure global inequality. This measure ignores internal inequalities, and comparing only on this basis ignores noncash transactions.

Expert Solution & Answer

Explanation of Solution

Answer and explanation

The World Bank measures global inequality by comparing the gross domestic product (GDP) of countries. It has a rankings of high income, upper middle income, lower middle income, and lower income, and measures mobility between categories. The GDP is an average per citizen statistic, and ignores any inequalities that are internal to a country. These internal gaps are growing in most developed countries. Another problem with this way of ranking is that it does not take into account the noncash transactions that happen inside countries when farmers barter goods and services, leading so some countries to be unfairly labeled lower income.

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Answer 5

Chapter 9, Problem 1CC-P210

Summary Introduction

Introduction

Global inequality is the systematic differences in wealth and power among countries. The World Bank uses gross domestic product to measure global inequality. This measure ignores internal inequalities, and comparing only on this basis ignores noncash transactions.

Expert Solution & Answer

Explanation of Solution

Answer and explanation

The World Bank measures global inequality by comparing the gross domestic product (GDP) of countries. It has a rankings of high income, upper middle income, lower middle income, and lower income, and measures mobility between categories. The GDP is an average per citizen statistic, and ignores any inequalities that are internal to a country. These internal gaps are growing in most developed countries. Another problem with this way of ranking is that it does not take into account the noncash transactions that happen inside countries when farmers barter goods and services, leading so some countries to be unfairly labeled lower income.

Answer 6

Chapter 9, Problem 1CC-P210

Summary Introduction

Introduction

Global inequality is the systematic differences in wealth and power among countries. The World Bank uses gross domestic product to measure global inequality. This measure ignores internal inequalities, and comparing only on this basis ignores noncash transactions.

Expert Solution & Answer

Explanation of Solution

Answer and explanation

The World Bank measures global inequality by comparing the gross domestic product (GDP) of countries. It has a rankings of high income, upper middle income, lower middle income, and lower income, and measures mobility between categories. The GDP is an average per citizen statistic, and ignores any inequalities that are internal to a country. These internal gaps are growing in most developed countries. Another problem with this way of ranking is that it does not take into account the noncash transactions that happen inside countries when farmers barter goods and services, leading so some countries to be unfairly labeled lower income.

Answer 7

Chapter 9, Problem 1CC-P210

Summary Introduction

Introduction

Global inequality is the systematic differences in wealth and power among countries. The World Bank uses gross domestic product to measure global inequality. This measure ignores internal inequalities, and comparing only on this basis ignores noncash transactions.

Answer 8

Expert Solution & Answer

Explanation of Solution

Answer and explanation

The World Bank measures global inequality by comparing the gross domestic product (GDP) of countries. It has a rankings of high income, upper middle income, lower middle income, and lower income, and measures mobility between categories. The GDP is an average per citizen statistic, and ignores any inequalities that are internal to a country. These internal gaps are growing in most developed countries. Another problem with this way of ranking is that it does not take into account the noncash transactions that happen inside countries when farmers barter goods and services, leading so some countries to be unfairly labeled lower income.