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
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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.
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- 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.Why is it desirable for a country to have a large GDP?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?
- Q.7.2 Use the following composition of expenditure for the economy of a country named the Republic of Tapuwa, for the year ended 2019 to answer the questions below: COMPONΕNT R millions Consumption expenditure (C) 9 000 Investment (I) 6 500 Government spending (G) 7 000 Exports (X) 1 800 Imports (Z) 2 400 Depreciation 700 Foreign payment to the rest of the 300 world Foreign payment from the rest of the 250 world Show all calculations and formulae. Calculate the value of the country's GDE (Gross Domestic Expenditure).South Africa has a GDP of $10 billion (measured in U.S. dollars) and a population of 45 million. Ecuador has a GDP of $12 billion (measured in U.S. dollars) and a population of 4.5 million. Calculate per capita GDP for each country. Question 24 options: South Africa = $222.22; Ecuador = $2,666.67 South Africa = $22.22; Ecuador = $266.67 South Africa = $2222.22; Ecuador = $26,666.67 South Africa = $22.22; Ecuador = $2,666.67Classify each of the following as IN Africa's 2020 GDP or NOT IN Africa's 2020 GDP. Cars produced in 2019 but sold in 2020: IN Africa's 2020 GDP,NOT IN Africa's 2020 GDP Cars produced in 2020 but sold in 2021: IN Africa 2020 GDP, NOT IN Africa 2020 GDP Used cars sold in 2020: IN Africa 2020 GDP, NOT IN Africa 2020 GDP Crude oil (used in the production of gasoline) produced in 2020: IN Africa 2020 GDP, NOT IN Africa 2020 GDP Oil produced by an Australian company in Africa in 2020 (and sold to consumers): IN Africa 2020 GDP, NOT IN Africa 2020 GDP Oil produced by Africa-owned companies outside of Africa (and sold to consumers) in 2020: IN Africa 2020 GDP, NOT IN Africa 2020 GDP
- How does the decline of natural resources and biodiversity affects Gross Domestic Product and Gross National Product?What is the effect that changes in business taxes, personal income, and transfer payments have on a country’s gross domestic product (GDP).What factors can lead to an increase in a country's Gross Domestic Product (GDP)?
- What do you call the Circular flow of goods and income of households and firms with the government and foreign countries.Consider the following table showing the breakdown of GDP (in billions) for China. GDP Category Amount (in billions) Wages and Salaries 1000 Consumption 1700 Investment 700 Depreciation 50 Government Expenditure 100 Taxes 300 Exports 50 Imports 40 Income receipts from rest of the world 10 Income payment to rest of the world 50 What are net exports for China? Suppose that GDP in Japan is 1030 and then grows to 1160 (all numbers in billions) What is the growth rate of GDP in Japan?Based on the GDP information in the table below for 2 countries: Country A Country B GDP per capita in 2020 $30,000 $25,000 GDP per capita in 2021 $32,000 $30,000 Group of answer choices Countries A and B have improved their standard of living in 2021, but A’s living standards have lowered compared to B. Country A has improved their standard of living in 2021 more than country B. Countries A and B have improved their standard of living in 2021 but A has higher standards of living than B. Country B has a higher GDP in 2021 than country A.
