Increases in GNP per capita are often interpreted as increases in welfare. What are some problems with this interpretation? What do you think is the biggest problem with it, and why?
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Increases in GNP per capita are often interpreted as increases in welfare. What are some problems with this interpretation? What do you think is the biggest problem with it, and why?
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- Why is GDP per capita is not the same as Economic well-being?How many times greater was the GDP in 2004 than in 1950? By how many times did the GPI increase between 1950 and 2004? What does this comparison tell you?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?
- In the diagram below, which of the following economies have a more equal income distribution? (a) Economy A. (b) Economy B. (c) Economy C. (d) More information is needed.If a country decides to have a UBI (Universal Basic Income) policy, what are some ways using which the government can generate money and resources to pay for UBI?Why would you expect an inverse relationship between self-sufficiency and real GDP per capita?
- The International Property Right Index scores countries based on the legal and political environment and how well property rights are protected. Go online and find a recent ranking. Choose three countries with high scores and three countries with low scores. Then find estimates of GDP per person in each of these six countries. What pattern do you find? Give two possible interpretations of the pattern.What comprises middle-income economiesGiven what you already know about Economics and based on your own informed opinion, which of the various measures of economic growth (e.g. GDP, GNP, real GDP, etc.) do you think is the most useful for understanding the macroeconomic “health” of a country and why?
- Please tell me which is the correct awnser for question 1.1 below there is nothing missing please just tell me which awnser or aawnsers are correct thank you Select one or more: a. If Country C's GDP per capita rises from $2,500 to 7,500, and Country D's GDP per capita rises from $6,000 to 18,000, the ratio of GDP per capita between the two countries is unchanged. b. If a country’s GDP doubles every 50 years on a ratio scale graph against time it will rise at an increasing rate. c. Country B is growing a higher percentage rate than Country A, but Country A is 5 times richer than Country B. On a linear scale graph against time the gap between the two lines must be narrowing. d. Country E is growing at the same percentage rate as Country F, but Country E is 3 times richer than Country F. On a log scale graph against time the gap between the two lines will be constant.What are the problems of the economic growth and consumption?The table presents recent data from the World Bank. Based on the data in the table, which statement is correct? Distribution of Income and Average Income Sri Lanka and Mongolia Sri Lanka Mongolia $3,000 40.6% 8.0% Average household income Percentage of total of income earned by the top quintile of households Percentage of total of income earned by the bottom quintile of households 7.0% $3,000 47.6% Average household income varies more in Mongolia than in Sri Lanka. The rich tend to be richer in Mongolia than in Sri Lanka. Average income in the top quintile is lower in Sri Lanka than in Mongolia. Average income in the bottom quintile is lower in Sri Lanka than in Mongolia.