The measure of GDP for economic growth is not always perfect. Describe any two problems that are associated with GDP as a measure of economic growth

Q: Income claculation for year 2013 are : Consumption=$40, Government Expenditure=$50, Investment=$25,…

A: The process by which a country's wealth increases over time is known as economic growth. Although…

Q: Suppose the following data for the Governments 2010 - 2019 state of economy 2019 2010 Population…

A: Population growth is defined as the enhancement  in the number of people in the population or…

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: 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: 1.2.4 Ifit is predicted that the GDP will increase to 22 000 in 2020, calculate the growth rate…

A: GDP is a macroeconomic measure that is used to determine the total aggregate production in a…

Q: A nation's real GDP was $250 billion in Year 1 and $270 billion in Year 2. Its population was 120…

A: Real GDP: - it is the inflation-adjusted value of all final goods and services produced in any…

Q: Although economic growth is typically measured by calculating the rate of change in real GDP, there…

A: Although economic growth is typically measured by calculating the rate of changein real GDP, there…

Q: Explain the innovation p

A: Innovation means an overall change or improvement in manufacturing technique, quality of product or…

Q: How much should a nation be concerned if its rate of economic growth is just 2% slower than other…

A: The small difference in the rate of growth makes larger economic effect over a long period of time…

Q: It is observed that in a country in a given period of 20 years the average GDP growth rate has been…

A: Gross Domestic Product :  GDP is a measure of the size of a country's economy. When GDP goes up, the…

Q: For a given year, productivity in a particular country is most closely matched with that country's…

A: Hello. Since your question has multiple parts, we will solve the first question for you. If you want…

Q: Text:Using the labor market, the production function Real GDP = T (L, K), and the LRAS curve,…

A: In macroeconomics, economic fluctuations are generally studied using the concepts of aggregate…

Q: Which is NOT a source of productivity growth?

A: Firms try to increase productivity with various method.

Q: In Philippine context, list down the positive correlation of remittances to the economic growth.…

A: Remittances are the money transfers that are sent by people working abroad to their home country.…

Q: 4.2 I dont understand how im supposed to do this without any numbers to use

A: In this case the rule of 70 is used.The rule of 70 basically estimates the number of years in which…

Q: Nominal GDP of country B grows from $30 billion to $33 billion between 2020 and 2021. Between 2020…

A: A government's nominal GDP is determined using price levels and is not indexed to inflation. Compare…

Q: 4.1 If real GDP in a small country in 2017 is $8 billion and real GDP in the same country in 2018 is…

A: GDP or gross domestic product refers to the total value of all goods and services produced in an…

Q: If the growth rate in an economy is 2%, its GDP will double in about:    48 years.…

A: Rule of 70 is used to determine the expected time in which the value of investment done in time 0…

Q: Questión b Suppose GDP per capita is $2,500 in 1912 and $2,550 in 1913. The growth rate of GDP per…

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

Q: Tremendous decline has been observed in GDP growth rate of Pakistan identify and explain the reason…

A: Pakistan's economy is at the 22nd rank in the world in terms of Purchasing Power Parity(PPP) and…

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: Shows how the graph will look for the positive relation between growth rate and standard of living…

A: When a country grows and started producing more output the standard of living for the people's also…

Q: Why is real GDP a better measure of economic growth than nominal GDP?

A: Nominal GDP refers to the total value of finished goods and services that produced within the…

Q: In a given year the nominal GDP growth rate is 10%, with inflation and population growth rates of 5%…

A: Given, Nominal GDP growth = 10% Inflation growth rate = 5% Population growth rate = 2%

Q: Which of the following policies is LEAST likely to cause economic growth? (A) The extraction and…

A: When there is increase in economic activities of the country, then it is said that economic growth…

Q: What are the differences between economic growth and economic development?  List 1 measurement for…

A: There are many components related to the economy and macroeconomic policies along with the whole…

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: Real GDP growth rate for 2016 and GDP deflator in 2016

A: Y=C+I+G+NXwhere Y=GDP which is equal to the gross market value of all goods and services produced…

Q: growth in real GDP is not always seen as economic growth. why?

A: GDP or Gross Domestic Product refers to final market values of all goods and services produced in a…

Q: What are the two major determinants of the overall growth of the economy according to the view of…

A: -Economic growth is the increment in the market worth of the labor and products that an economy…

Q: Two ways in which the manufacturing sector can contribute to economic growth

A: Economic growth is a rise in the level of services and goods that are sustained over a long period…

Q: Why one nation experiences economic growth and another does not is a question that has intrigued…

A: Hi there! Thank you for the question. As per the guidelines, we can answer up to 3 sub-parts at a…

Q: An increase in would lead to an increase in long-run economic growth. a) consumer spending and…

A: Economic growth is the permanent increase in real GDP per capita.

Q: If the GDP (t) of Japan is $997.50B today and this country is expecting its GDP (t+1) to be $1,076.9…

A: Given the present GDP of Japan = $997.50 Expected GDP = $1076.9

Q: What is the GDP growth rate? What is GDP per capita growth rate? What is the productivity growth…

A: Definition of. GDP per hour worked. GDP per hour labored is a degree of hard work productivity. It…

Q: Write an short essay,explain at least 3 possible challenge and concern related to economic growth…

A: Even after internal pressures and a constantly changing economic environment, the United States'…

Q: onomic gro

A: The non economic factors are : 1. Human Resources  They are considered to be an important factor in…

Q: Nominal GDP of country B grows from $30 billion to $33 billion between 2020 and 2021. Between 2020…

A: An economic growth rate is the rate change in the worth of the merchandise as a whole and…

Q: Explain the concept of economic growth and give the examples

A: Economics is the science of social sciences. Here, we study about the production, consumption,…