MindTap Economics, 1 term (6 months) Printed Access Card for Mankiw's Principles of Economics, 8th (MindTap Course List)
8th Edition
ISBN: 9781337096515
Author: N. Gregory Mankiw
Publisher: Cengage Learning
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Question
Chapter 23, Problem 8QR
To determine
Why it is desirable to have large GDP .
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Chapter 23 Solutions
MindTap Economics, 1 term (6 months) Printed Access Card for Mankiw's Principles of Economics, 8th (MindTap Course List)
Ch. 23.1 - Prob. 1QQCh. 23.2 - Prob. 2QQCh. 23.3 - Prob. 3QQCh. 23.4 - Prob. 4QQCh. 23.5 - Prob. 5QQCh. 23 - Prob. 1CQQCh. 23 - Prob. 2CQQCh. 23 - Prob. 3CQQCh. 23 - Prob. 4CQQCh. 23 - Prob. 5CQQ
Ch. 23 - Prob. 6CQQCh. 23 - Prob. 1QRCh. 23 - Prob. 2QRCh. 23 - Prob. 3QRCh. 23 - Prob. 4QRCh. 23 - Prob. 5QRCh. 23 - Prob. 6QRCh. 23 - Prob. 7QRCh. 23 - Prob. 8QRCh. 23 - Prob. 1PACh. 23 - Prob. 2PACh. 23 - Prob. 3PACh. 23 - Prob. 4PACh. 23 - Prob. 5PACh. 23 - Prob. 6PACh. 23 - Prob. 7PACh. 23 - Prob. 9PACh. 23 - Prob. 10PACh. 23 - Prob. 11PACh. 23 - Prob. 12PA
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- Why is it desirable for a country to have a large GDP? Give an example of something that whould raise GDP and yet be undesirable?arrow_forwardIs it possible for GDP to rise while at the same time per capita GDP is falling? Is it possible for GDP to fall while per capita GDP is rising?arrow_forwardWhat factors can lead to an increase in a country's Gross Domestic Product (GDP)?arrow_forward
- As an economist with the World Bank you have been asked to measure the Gross Domestic Product for the US for 2019. You are told that the private consumption, gross domestic investment, government purchases and exports all add up to $ 24 trillion. You later learn that imports to the US in 2019 were $4 trillion. To get GDP, you should A. Ignore the $ 4 trillion because exports have already been included in the $ 24 trillion B. Add $ 4 trillion to $24 trillion because imports are used as inputs in the production of other goods in the US C. None of the above D. Subtract $4 trillion from $24 trillion because imports are not part of US domestic outputarrow_forwardBy How Much Will U.S. GDP Grow Next Year?arrow_forwardWhy is the GDP important?arrow_forward
- Why do we subtract import spending from total expenditures while calculating the GDP?arrow_forwardIs GDP per capita a good measure of a country's standard of living? Is GDP a good measure of a country's well-being? How should a country’s well-being be measured?arrow_forwardWhat can the government of Pakistan do to improve their GDP?arrow_forward
- For the country of Madagascar government spending was $15,000 in 2007. Consumption was $88,000, investment was $10,250, exports were $2500, and imports were $3500. What was GDP equal to?arrow_forwardWhat components of GDP tend to decline significantly during recessions (particularly during the 2008 recession), and what GDP components rise during expansion?arrow_forwardwhich of the below statements about the U.S. GDP do you think is INCORRECT? Group of answer choices India has a GDP that is many times the size of the GDP of Israel. Yet, of the two, Israel is considered to be the richer economy because it has a higher per capita income. GDP may give us a measure of economic prosperity, but it is at best an imperfect measure, since it does not indicate the level of happiness, leisure, literacy, life expentancy, environmental preservation, or other such factors that may improve the quality of human life. China achieved its rapid rate of GDP growth in the 21st century with little, if any, environmental depletion or pollution.arrow_forward
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