Per capita income (or output) is the general measure used to compare the standard of living between countries. If a country's population growth is higher than its economic growth, what happens to per capita income? What are some of the limitations to using per capita income as a measure to compare the well-being of different countries?

Q: Suppose there are two countries, India and Bangladesh. In country India, Real GDP grows by 3 percent…

A: Economic Growth is the increase in the output or production of goods and services in the country…

Q: Many countries import considerable amounts of goods and services from other countries. Yet…

A: Comparative advantage refers to the situation where one party can produce the goods and services…

Q: real GDP

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

Q: PROVIDE BRIEF NOTE ON POPULATION GROWTH?

A: Population growth refers to the changing patterns of birth rates and death rates of a country over a…

Q: An emerging country has a real GDP of $1553.1 billion. After one year, real GDP has grown to $1677…

A: Real GDP is the money value of all final goods and services produced in an economy corrected for…

Q: Why do poor countries often exhibit much stronger growth rates than rich countries ?

A: Poor countries are those which have low GDP, which have recently become independent. There are…

Q: State some reason why the demographic trend and Human Development Index may affect the Gross…

A: Demographic trend is related to the population of the country. In the demographic trend, different…

Q: The most commonly used measure of the economic growth of a country is which of the following? (A)…

A: Economic growth is measured by the increase production of goods and services per capita by a country…

Q: Discuss whether GDP per capita is the most appropriate measure of economic success

A: GDP: The money value or monetary value of all finished commodities produced in the domestic…

Q: Which of the following two countries A and B ceteris paribus do you expect to have the higher…

A: A - Country A will have higher level of GDP growth because it features a higher GDP per capita

Q: ndia's per-capita GDP must double __________  times. Use the rule of 70 to find how many years it…

A: Per capita of the  GDP of Italy is $28000, Per capita of the GDP of India is $3500, So in 1st…

Q: Why is economic growth a goal of most if not all nations of the world? Why is investment in…

A: Economic growth is primarily used to explain an increase in the total production of output or…

Q: Fill in the blank   Italy is a relatively rich country with per-capita GDP of $28,000. India is a…

A: Given:

Q: A country aims to double real GDP per capita in the next 25 years. If the rate of population growth…

A: Using the rule of 70 Growth rate to double = 70/years=70/25=2.8% Future value, FV = 2 Present value,…

Q: In your opinion, will real GDP or per capita real GDP be a better indicator in measuring well-being…

A: GDP is the money value of all final goods and services produced in an economy during a specific…

Q: Discuss the merits and demerits of real GDP per capita a measure of a country’s living standard

A: The average national income per person that adjustable for inflation is referred to as real GDP per…

Q: What has surprised you most about the measurement of economic development?

A: The United Nations Development Programme's first Human Development Report, issued in 1990,…

Q: Aside from the GDP, what other measures may we use to better understand the level of development of…

A: Economic Development refers to the improvement in the living standard and quality of life eg. Life…

Q: It is not possible for a country to experience A. economic growth and economic development…

A: Answer. Option- d  Economic development without economic growth is correct. Economic development is…

Q: In what role do you think does savings and investments play in the economy? Explain your answer. In…

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Most of less developed countries have achieved higher economic growth during the past ten years, but…

A: Underdeveloped countries are characterized by the low level of economic development and standard of…

Q: Two countries start with the same real GDP per capita. Country A’s real GDP per capita is growing at…

A: Country B real GDP per capita same as country A-6.6% After 140 years,it would be 6.6*4=26.4

Q: A country aims to double real GDP per capita in the next 25 years. If the rate of population growth…

A: Given:Years required to double real GDP per capita=25 yearsRate of population growth=0.9% per year

Q: Texas 45,091 58.417 Colorado 47,335 59,057 Ohio 42,086 51.456 What is the difference in terms of…

A: The average annual growth rate (AAGR) is the common boom or lower withinside the cost of an funding…

Q: Suppose that real GDP per capita of the United States is $32,000 and its growth rate is 2% per year…

A: Rule of 70: - it gives the number of years in which an amount of money gets doubled at a particular…

Q: Show graphically and explain how an increase in government expenditures on education affects real…

A: During financial slowdown or low economic growth, the government plays a key role by increasing its…

Q: A nation's real GDP was $300 billion In Year 1 and $309 billion in Year 2. Its population was 120…

A: Real GDP measures the value of goods and services produced in an economy with prices constant. GDP…

Q: How economic development influence the productivity in a certain country? What is a growing economy…

A: "Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: What does the level of a nation's GDP measure?What does the growth rate of GDP measure?Would you…

A: As per national income accounting, the income earned by an economy during a period can be gauged by…

Q: Would you rather live in a nation with a high per capita GDP and low growth rate, or in a nation…

A: Answer in Step 2

Q: What are the economic growth indicators ?

A: Growth is usually referred to as increase in the rate of increment of Gross Domestic product(GDP).…

Q: 2001, a country had a real GDP of $30,000,000 and in 2002, real GDP was $40,000,000. What was the…

A: The real GDP is the inflation adjusted level of GDP in the economy. The GDP is the summated money…

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: Which of the following refers to those who are interested in assessing the relative standard of…

A: National income is a parameter to gauge the performance of a nation during a given period of time.…

Q: If economic output is increased by increasing the number of people working in the economy, then *

A: It is said that the economy increases it output , by increasing the labors in the economy .

Q: Why is saving important for economic growth and development

A: Meaning of Economics: The term economics refers to the situation under which there remain…

Q: What measure of economic development that is used most often to classify nations as industrially…

A: Real per capita income is one of the major economic development that is used most often by the…

Q: Distinguish between economic growth and economic development. How important is the accumulation of…

A: The difference between economic growth and economic development is listed below.