Gross DomesticProduct (GOP) of UAE is AED 40,000. GDP(Gross Domestic Product) is the wealth in thecountry, regardless who owns the wealth.GNP is the wealth produced by citizensroduced. Mohamed, a UAE citizen, works inParis of the country, regardless where thewealth is p and earns 30,000 Jacques, aFrench citizen, works in Dubai and earns40,000. a French citizen, works in Dubai andearns 40,000 Fatima a UAE Fatima a UAEcitizen, owns a condominium in Berlin whichshe rents to a German family for 20,000.Angela, a German citizen, owns awarehouse in Sharjah which she rents to aU.S. firm for 70,000. Find the GNP of UAE?

Gross National Product (GNP) is the total value of all finished goods and services produced by a…

Answered: Angela, a German citizen, owns a…

Business

Economics

Angela, a German citizen, owns a warehouse in Sharjah which she rents to a J.S. firm for 70,000. Find the GNP of UAE?

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter19: Measuring Economic Performance

Section: Chapter Questions

Problem 8P

See similar textbooks

Related questions

Q: Economics A characteristic of a population is called a A confidence interval for a population mean A…

A: a) A characteristics of a population is called a parameter. And we can say that the characteristic…

Q: How much donations NRIs give every year in india from 2011-2021 ?

A: The Ministry of Home Affairs (MHA) has issued a banking charter that states that "donations received…

Q: A nation's citizens often dislike the economy's distribution of income. Explain two methods for…

A: Equal distribution of income occurs when all the sections of the society are able to improve their…

Q: It is the part of the total population that has shown some level of interest in buying a particular…

A: Whenever a firm tries to sell a product or a service, it categorizes the buyers.

Q: G3

A: It is a bunch of principles and ideas which explains the functioning of the economy or various…

Q: A universal basic income would not only lift more than 3.2 million Canadians out of poverty, it…

A: Positive Statements are those which are based on facts and figures. Normative Statements are those…

Q: GNP is a good national indicator for sustainability. True False

A: The gross national product (GNP) measures the value of final goods and services produced by the…

Q: In recent years, the developing countries’ fertility rate has been declining. 2. Projections place…

A: Developed countries in general have a lower fertility rate due to a high living, and as a result of…

Q: ex pice might change in areas facing population growth

A: To find : How equilibrium price for air travel might change in areas facing population growth.

Q: Question 1. When there is investment made in the form of education, training and medical care, the…

A: Investment is to allocate money in different assets in order to receive benefit out of it in future.…

Q: Calculate the proportion of Kumasi for 2021, if the growth rate is 3% per annum and death rate is…

A: The proportion of population of a country keeps changing every year due to various factors that…

Q: Poverty may be reduced: By redistributing income By increasing the gross domestic product [GDP] By…

A: Poverty and inequality are reduced when income is redistributed in form of higher taxes to rich and…

Q: Large majorities in the 11 emerging and developing countries surveyed either own or share a mobile…

A: In microeconomics, the income effect measures the change in dd for a commodity due to change in an…

Q: State any two limitations of per capita GDP as an index of economic welfare

A: According to the given question GDP or the gross domestic product is initially known as the…

Q: 22. Define the following: Per capita Income Monetary Policy World Bank International Monetary…

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…

Q: Are ASEAN countries still experiencing absolute poverty, name the country and present some data…

A: ASEAN, or the Association of Southeast Asian Nations, is a political and economic union in Southeast…

Q: Population in Egypt is 100 million and population across Kenya iş 52 million both countries are in…

A: Given, Population of Egypt = 100 million Kenya = 52 million

Q: In developed countries, which one is correct? a Market income inequality > Final distribution of…

Q: How is fertility measured?

A: Fertility is defined as a capability of an individual to produce off springs through reproduction.…

Q: MODIFIED TRUE OR FALSE Human Development Index is a mix of three statistics- wealth, education and…

A: UNDP has provided various aspects of the development of HDI. HDI ranking is part of the development…

Q: 14. In many developing nations, ______________________ is defined as the minimum income a person…

A: The developing nations are the countries which have low level of economic development and low level…

Q: In absolute terms, developing countries have made more progress in reducing infant mortality over…

A: Infant mortality rate refers to the economic rate of the death of babies before the age of 1 year.

Q: Which of the following Gini coefficients indicates that a country has an equal distribution of…

A: The Gini index/ Gini Coefficient is a measure of the distribution of income across a population.

Q: Why is the population of low- income countries predicted to grow more quickly than the population of…

A: The population rate affects the income per capita GDP. The low-income countries grow differently…

Q: Thomas maltus theory of population and economy

A: Population growth is a hurdle to economic development as it results in an additional burden on the…

Q: Japan's population is not aging along with the rest of the developed world. True False

A: Population projection is observationally founded on estimations of past or future, populace numbers…

Q: how much was the net primary income from the rest of the world in 2019?

A: Net primary income is the net flow of income, investment, profits and dividend on investments and it…

Q: Income inequality in the United States Select an answer and submit. For keyboard navigation, use the…

A: The wage rate difference between skilled and non-skilled workers has been increasing since 1970.…

Q: How does LDC government investment in educational expansion affect income distribution?

A: In less developed countries (LDC) the government invests in the education sector because the major…

Q: Why Malaysia invested so much money in education and health? Evaluate the soundness of these…

A: Why Malaysia invested so much money in education Malaysia's education system is critical to…

Q: What is the differences between men and women in terms of life expectancy in Spain?

A: Life expectancy is the measurement of duration of life based on the birth year. This can be…

Q: The term demographic transition refers to ____. a. the slowing down in the growth of a…

A: Demographic Transition is a model that is used to identify changes in the human population.

Q: There are only a few countries in which a high proportion of the population shares common…

A: Answer- "Thank you for submitting the question.But, we are authorized to solve one question at a…

Q: how covid 19 impacted South africas economy. GDP, unemployment, interest rates,

A: Answer: After the emergence of the covid 19 in South Africa, the government announced 21 days…

Q: Educational equality exists when schooling produces the same __________ for lower-class children and…

A: Education equality refers to the similar level of opportunities and knowledge for all the people…

Q: 71.Improvements in nutrition and health care typically increase life expectancies and decrease…

A: Nutrition and healthcare services play an important role in the demographic changes that occur in…

Q: Question 3b Income per capita is not a good measure of welfare in an economy. Discuss.

A: Per capita income refers to amount of money earned per person in the economy. It is used to…

Q: If a teacher is teaching his/her child at home will this be counted while estimating national income…

A: The national income is a measure of the total value of final goods and services produced by the…

Q: Most of the world's population and a majority of countries are OA. there is no majority. The world's…

A: Over the past 50 years, the world population has increased significantly. Most of population is…

Q: In 2016, about what percentage of households had personal income of $100,000 or more? Multiple…

A: Personal Income is the income with the consumers before the individual income tax are being…

Question

Gross Domestic
Product (GOP) of UAE is AED 40,000. GDP
(Gross Domestic Product) is the wealth in the
country, regardless who owns the wealth.
GNP is the wealth produced by citizens
roduced. Mohamed, a UAE citizen, works in
Paris of the country, regardless where the
wealth is p and earns 30,000 Jacques, a
French citizen, works in Dubai and earns
40,000. a French citizen, works in Dubai and
earns 40,000 Fatima a UAE Fatima a UAE
citizen, owns a condominium in Berlin which
she rents to a German family for 20,000.
Angela, a German citizen, owns a
warehouse in Sharjah which she rents to a
U.S. firm for 70,000. Find the GNP of UAE?

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

What are the two main difficulties that arise in comparing different comparing GDP?
Last year, a small nation with abundant forests cut down 200 worth of trees. It then turned 100 worth of trees into 150 worth of lumber. It used 100 worth of that lumber to produce $250 worth of bookshelves. Assuming the country produces no other outputs, and there are no other inputs used in producing trees, lumber, and bookshelves, what is this nations GDP? In other words, what is the value of the final goods the nation produced including trees, lumber and bookshelves?
Why is the GDP deflator not an accurate measure of inflation as it impacts a household?
Ethiopia has a GDP of 8 billion (measured in U.S. dollars) and a population of 55 million. Costa Rica has a GDP of 9 billion (measured in U.S. dollars) and a population of 4 million. Calculate the per capita GDP for each country and identify which one is higher.