The standard of living in a nation is measured by: A. the rate of growth of real gross domestic product per capita. B. its employment rate. C. the rate of growth of nominal gross domestic product. D. its unemployment rate E. its inflation rate
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The standard of living in a nation is measured by:
A. the rate of growth of real gross domestic product per capita.
B. its employment rate.
C. the rate of growth of nominal gross domestic product.
D. its
E. its inflation rate
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- Brazil’s real GDP was 1,520 trillion reais in 2011 and 1,585 trillion reais in 2012. Brazil’s population was 195 million in 2011 and 196.5 million in 2012. Calculate a. The growth rate of real GDP b. The growth rate of real GDP per person c. The approximate number of years it takes for real GDP per person to double when the real GDP growth rate and the population growth rate are maintained.Value of the final goods and services produced in a given year valued at that year's prices A. Nominal GDP B. Real GDP C. Net Domestic Product D. Per Capita GDPValue of the final goods and services produced in a given year corrected for inflation in order to measure actual production A. Nominal GDP B. Real GDP C. Net Domestic Product D. Per capita GDP
- 1) GDP is a better indicator of economic growth and welfare than GNP because a) indicates income from goods/services that are available in the country.b) it is always larger than the GNP and includes government services.c) the entrepreneurs' effort of combination of other factors of production are included.d) all factor of production's income are accounted for. 2) To increase your productivity, you must a. use the latest equipment.b. increase your marginal price. c. hone your skills. d. be good looking. a) a and c.b) b and d.c) a and b 3) The Malthusian population trap tell us that a) that there is a stage that income and population stop to grow.b) increased population has nothing to do with economic growth.c) There is point in which population is not contributing to labor increases.d) trade routes of people is responsible for population growth. .e) there is inequality in income there fore population is affectedGDP per capita for the U.S. and Bhutan. How do they compare? What do the GDP per capita calculations indicate with respect to standards of living in each country? Now, research Gross National Happiness (GNH). Compare GNH in Bhutan to Bhutan’s GDP. Which measure do you think is the most useful measure in evaluating a nation’s standard of living?In 2004, the GDP of UK was $8200. Suppose that UK has a growth rate of 1.8%. a. What is Britain's GDP after 8 years? b. What is Britain's GDP after 20 years?
- Which of the following refers to those who are interested in assessing the relative standard of living in different countries over a given period? a.Percentage change in nominal GDP b.Population c.Per capita GDP. d.Nominal GDP1. Calculate the Real GDP for 2017. Show your calculation.2. Did Suniland experience economic growth in 2017? Show your calculationsThe growth rate of potential GDP is not affected by a. the growth rate of the labor force. b. environmentalists’ ability to pass regulations. c. the rate of technological progress. d. the growth rate of a nation’s capital stock.
- The table below shows labour data for Eturia. Output per Week (millons of cases) 108 Year 2018 2019 2020 118 118 Labour Input (millions of workers) 6.00 6.20 6.10 Productivity Rate a. Calculate the weekly productivity rates for each year. Enter each rate in last column of the table above. Round your answers to one decimal place. b. Labour productivity was highest in the year (Click to select) 2020 2018 2019.Earnings of individuals and companies inside a country is part of the GDP _________. a. only if they are produced in the previous year b. even if they are produced by non-citizens. c. even if they come from illegal sources d. including earnings from selling second-hand goods.Australia's real GDP was $A1,730 in 2017 and $A1,782 in 2018. Australia's population was 24.6 million in 2017 and 25.0 million in 2018. Calculate a. The growth rate of real GDP. b. The growth rate of real GDP per person. c. The approximate number of years it will take for real GDP per person in Australia to double if the current real GDP growth rate and population growth rate are maintained.