Economics:
10th Edition
ISBN: 9781285859460
Author: BOYES, William
Publisher: Cengage Learning
expand_more
expand_more
format_list_bulleted
Question
Chapter 17, Problem 2E
To determine
(a)
Per capita GNP or
Criticisms of using per capita GNP as a measure of standard of living.
To determine
(b)
Per capita GNP or GDP is used as an absolute measure of poverty
Criticism applied to a quality −life index.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solutionStudents have asked these similar questions
Increases in GNP per capita are often interpreted as increases in welfare. What are some problems with this interpretation? What do you think is the biggest problem with it, and why?
State any two limitations of per capita GDP as an index of economic welfare
28. Country A has a GDP-per-capita of $500, and Country B has a GDP-per-capitaof $75,000. Which of the following is NOT a plausible reason for Country B’s higherGDP-per-capita?(A) Country B has more open and inclusive economic and political institutions.(B) Country B has more natural resource wealth.(C) Country B has lower productivity.(D) Country B has more capital.
Knowledge Booster
Similar questions
- Country Namibia South Africa Botswana Zambia Brazil Per Capita Income (2017) $10,380 12,870 15,510 3,810 15,140 13,430 16,860 1,760 14,320 55,980 41,680 34,700 41,280 48,700 Percentage of Total Income Received by Highest Decile Honduras Mexico Haiti China United States France Spain Great Britain. Sweden Source: World Development Indicators, World Bank, 2018. $ 23,316 b. less than 30 percent of total income? 27 26 25 23 31 31 31 40 37 35 44 52 51 50 Using the figure, what is the average per capita income in nations shown in the figure where the highest-income decile gets: Instructions: Enter your responses as a whole number. a. at least half of total income?arrow_forwardWhat is the following formula that could be used for calculating the per capita income of a country??arrow_forwardWhat is Human Development Index?arrow_forward
- Per capita income?arrow_forwardGive at least 5 limitations of Human Development Index. Explainarrow_forward1) Are there ways that someone can use to account for a country's equitable distribution of income (and/or economic well-being)? if so how is it possible? 2) What is the equivalent organization to OECD (Organization for Economic Co-operation and Development) that primarily focuses on lesser developed and developing countries? 3) What are the substantive issues/discussions in the The World Economic Forum unfolding at Davos Switzerland pertaining to economic and international economic issues. 4) What are the ideas by M. Feldstein and C. Horiokaabout on current account and/or balance of payments issues?arrow_forward
- What are 3 main Human Development Indices used ? what is an advantage and disadvantage of each?arrow_forwardWhat is the HUMAN DEVELOPMENT INDEX? What does the HUMAN DEVELOPMENT INDEX tell us?arrow_forwardAt the beginning of the year, one developing country (DVC) has a real income per capita of $1,000. In a developed country (IAC), the real income per capita is $30,000. Both countries experience a 4 percent growth rate for the year. At the end of the year, the absolute income gap between these two countries will have increased from $29,000 to $30,160. $31,200. $30,120. $32,240.arrow_forward
- Thomas maltus theory of population and economyarrow_forwardWhat is meant by Absolute Poverty? What measures of income poverty are favored by development economist? How do income poverty measure are differ from UNDP’s MPI? Why we are concerned about the measure for developing countries?arrow_forwardWhat is the relationship between property rights, corruption and economic progress? do the anti-corruption efforts improve the country level of economic development?arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Microeconomics: Private and Public Choice (MindTa...EconomicsISBN:9781305506893Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. MacphersonPublisher:Cengage LearningEconomics: Private and Public Choice (MindTap Cou...EconomicsISBN:9781305506725Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. MacphersonPublisher:Cengage Learning
Microeconomics: Private and Public Choice (MindTa...
Economics
ISBN:9781305506893
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:Cengage Learning
Economics: Private and Public Choice (MindTap Cou...
Economics
ISBN:9781305506725
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:Cengage Learning