IS GDP important for economic growth

Q: if A's GDP is higher than country's B GDP, does it follow that country A has a higher per capita GDP…

A: Gross domestic product (GDP) is the monetary value of all final goods and services produced within a…

Q: What is the relationship between the growth rate of real GDP and the growth rate of real GDP per…

A: Real gross domestic product or real GDP is the value of all goods and services produced by an…

Q: If US per capita GDP is $50,000 and grows at 3% per year, what will US per capita GDP be in 70…

A: Given: US per capita GDP=Present value=PV=$50,000Growth rate=i=3%n=70 years

Q: real GDP

A: GDP or gross domestic product is the value of the goods & services that are produced within the…

Q: Why do we measure economic growth using Real GDP rather than Nominal GDP

A: Real GDP, It is  the total value of goods and services produced Within a political boundary of a…

Q: what is the importance of calculating the growth rate?

A: Growth rate refers to the percentage change in the variable such as revenue, investment and other…

Q: Consider the following table. Year GDP Population 2019 13 million 1481 2020 20 million 1395…

A: GDP stands for Gross domestic product. It lay focus on how fast the economy is growing. Please find…

Q: what is the importance of calculating the growth rate of nominal GDP and real GDP?

A: NGDP refers to the value of all final G&S in a year that an economy produces.RGDP is an…

Q: What are the fluctuations in Ghana economic growth from 2018 to 2021?

A: Economic Growth A rise in the production of economic goods and services is characterized as economic…

Q: How is the indian economy doing? What is the growth rate of the real GDP? What is the trend in this…

A: The Indi economy was considered as one of the fastest growing economies of the world along with the…

Q: What is the ratio of the GDP growth rate to the business cycle? Explain.

A: Economic development can be brought about by arbitrary variances, occasional vacillations, changes…

Q: By How Much Will U.S. GDP Grow Next Year?

A: It was forecasted in the Federal open market Committee meeting which was held on 11th December,2019…

Q: In 2014, the GDP of Russia was $5500. Suppose that Russia has a growth rate of 3.4%. a. What is…

A: a. The GDP is the summation of the money value of all the final goods and services produced within…

Q: Explain why Gross national income (GNI) is per capita is not a good measure of development

A: Gross National Income:- The aggregate amount of income generated by a country's population and…

Q: What’s the relationship between unemployment rate and economic growth rate ?

A: Unemployment is defined as a state in which individuals who are actively seeking for a job are…

Q: In 2017, the GDP of Canada was $8800. Suppose that Canada has a growth rate of 3.2%. a. What is…

A: The GDP refers to the price value of all final goods and services produced annually in a country.…

Q: Calculate growth rate of real GDP in 2019 compared to 2009. Show calculations

A: Real GDP measures market value of goods and services using constant set of prices.

Q: In 2004, the GDP of UK was $8200. Suppose that UK has a growth rate of 1.8%. a. What is Britain's…

A: The GDP refers to the price value of all final goods and services produced annually in a country.…

Q: write a note by comparing Per-capital GDP and Human Development Index as a measure of Standard of…

A:

Q: Suppose that real GDP was $2265 billion in 2018 and $2285 billion in 2019. Calculate the growth rate…

A: Given:GDP in 2018=$2265GDP in 2019=$2285

Q: What is india total gdp?

A: The total monetary or market worth of all finished goods and services produced within a country's…

Q: Nominal gross domestic product (GDP) increased from $15 trillion to $17 trillion, and the price…

A: Given: The nominal GDP increases from = $15 trillion to $17 trillion The price level increases from…

Q: 1. Find per capita GDP when the population is 100 million and GDP is $2 trillion. 2. Find per…

A: The per capita gross domestic product (GDP) is a financial measure that calculates a country's…

Q: A small county wants to increase its real GDP from $18,000 to $36,000. If they want this to happen…

A: If annual average growth rate is g, then Initial GDP x (1 + g)N = New GDP

Q: An increase in the standard of living of citizens of a country can be best measured by the growth…

A: Per capita nominal GDP:-                            Nominal GDP per capita=Nominal GDPPopulation…

Q: Why is Real GDP a better indicator of productive growth than Nominal GDP ?

A: Gross Domestic Product (GDP) measures the value of final goods and services produced with in the…

Q: Calculate GDP growth rate

A: GDP: The Economic growth of a country is measured in GDP terms where GDP is the measurement of the…

Q: How does Standard of Living affect Quality of Life in terms of GDP?

A: Gross domestic product (GDP) is the sum of the monetary value of all the final products and services…

Q: ii. Given Y = xert find growth rate.

A: ii. Given:Y=xert

Q: relate the terms: increase, growth.

A: Economics refers to the human behavioral study in response of utilizing the scarce resources, that…

Q: How come higher saving leads to more rapid growth?

A: The higher savings means the resources and incomes of the nationals has been used in consumption at…

Q: In 2015, the GDP of US was $2100. Suppose that US has a growth rate of 2.3%. a. What is US GDP after…

A: Given data: In 2015 GDP=$2100 Growth rate, r=2.3%

Q: In 2017, the GDP of UK was $2100. Suppose that UK has a growth rate of 2.3%. a. What is Britain's…

A: The GDP refers to the price value of all final goods and services produced annually in a country.…

Q: If GDP is currently $300 and the growth rate is 5 percent, how many years will it take for GDP to…

A:

Q: In 2017, the GDP of Brazil was $5100. In 2018, the GDP of Brazil was $11800. a. What is the growth…

A: The percentage change in the value of the total goods and services produced in a country during a…

Q: Understand ways we measure growth.

A: The term 'economic growth’ refers to the increase in the national income or total volume of…

Q: Brazil’s real GDP was 1,520 trillion reais in 2011 and 1,585 trillion reais in 2012. Brazil’s…

A: GDP: The GDP or the gross domestic product can be defined as the value of the final goods and…

Q: Which year was Equatorial Guinea's GDP per capita $22,942?

A: GDP per capita income reflects a country's total economic output divided by its population. In this…

Q: Find per capita GDP when the population is 300 million and GDP is $1.5 trillion.

A: GDP is the value of all the goods and services produced in the economy in a specific period of time.…

Q: In 2003, the GDP of UK was $7200. In 2004, the GDP of UK was $11400. What is the growth rate for the…

A: The percentage change in the value of the total goods and services produced in a country during a…

Q: In 2008, the GDP of France was $7900. Suppose that France has a growth rate of 2%. a. What is…

A: GDP in 2008 = $7,900 Growth Rate = 2% per annum The future value can be calculated by the following…