Economics For Today
10th Edition
ISBN: 9781337613040
Author: Tucker
Publisher: Cengage Learning
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Question
Chapter 30, Problem 7SQ
To determine
The relation of Real
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Which one is correct? A/B/C/
Last year, North End Coffee Roasters Bangladesh opened a number of branches at different location of Dhaka city. This event-
A. Increases current year’s GDP
B. Increases current investment expenditure
C. Current GDP remains unchanged.
Last year, real GDP per person was $4,200. The year before it was $4,000. By what percentage did real GDP per person grow during the period?
a. 200 percent
b. 10 percent
c. 5 percent
d. 50 percent.
Which of these statements is not true?
a.
GDP only measures final outputs bought and sold
b.
GDP in not an accurate measure of standard of living
c.
GDP is a better measure of quality of life than standard of living
d.
GDP is different from GNP
Chapter 30 Solutions
Economics For Today
Ch. 30.2 - Prob. 1GECh. 30.2 - Prob. 2GECh. 30 - Prob. 1SQPCh. 30 - Prob. 2SQPCh. 30 - Prob. 3SQPCh. 30 - Prob. 4SQPCh. 30 - Prob. 5SQPCh. 30 - Prob. 6SQPCh. 30 - Prob. 7SQPCh. 30 - Prob. 8SQP
Ch. 30 - Prob. 9SQPCh. 30 - Prob. 10SQPCh. 30 - Prob. 11SQPCh. 30 - Prob. 12SQPCh. 30 - Prob. 1SQCh. 30 - Prob. 2SQCh. 30 - Prob. 3SQCh. 30 - Prob. 4SQCh. 30 - Prob. 5SQCh. 30 - Prob. 6SQCh. 30 - Prob. 7SQCh. 30 - Prob. 8SQCh. 30 - Prob. 9SQCh. 30 - Prob. 10SQCh. 30 - Prob. 11SQCh. 30 - Prob. 12SQCh. 30 - Prob. 13SQCh. 30 - Prob. 14SQCh. 30 - Prob. 15SQCh. 30 - Prob. 16SQCh. 30 - Prob. 17SQCh. 30 - Prob. 18SQCh. 30 - Prob. 19SQCh. 30 - Prob. 20SQ
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Similar questions
- GDP per capita is one way to measure an economy's growth. China and India began to progress when they allowed private ownership, around ____. Since then, there has been steady, strong growth in these economies. Group of answer choices 2000 1970 1980 1990 1960arrow_forwardWhy is GDP per capita is not the same as Economic well-being?arrow_forwardif A's GDP is higher than country's B GDP, does it follow that country A has a higher per capita GDP than country B?arrow_forward
- Please no written by hand The standard of living (per capita Real GDP) in the U.S.: a. increased in every decade from 1930 to 2010 except the 1930s and 1970s b. almost doubled between 1930 and 2010 c. Both of the above d. Neither of the above The standard of living (per capita Real GDP) in the U.S.: a. increased in every decade from 1930 to 2010 except the 1930s and 1970s b. almost doubled between 1930 and 2010 c. Both of the above d. Neither of the abovearrow_forwardRefer to Table 4.3 “The Model’s Prediction for Per Capital GDP” on page 83. Why is the “observed per capita GDP” in the last column 1.000 for the U.S.? A. The U.S. per capita GDP was $1,000 in real terms for the year given in the table B. It means the U.S. economy produces 100% of what it’s supposed to produce C. It means the U.S. economy uses 100% of all available capital in the country D. U.S. values are set, or normalized, to 1 while the other countries’ values are all relative to the U.S. valuesarrow_forwardDiscuss the merits and demerits of real GDP per capita a measure of a country’s living standardarrow_forward
- Why is average GDP per capita used In measuring standard of living for individuals in the economy?arrow_forward1) GDP is a better indicator of economic growth and welfare than GNP because a) indicates income from goods/services that are available in the country.b) it is always larger than the GNP and includes government services.c) the entrepreneurs' effort of combination of other factors of production are included.d) all factor of production's income are accounted for. 2) To increase your productivity, you must a. use the latest equipment.b. increase your marginal price. c. hone your skills. d. be good looking. a) a and c.b) b and d.c) a and b 3) The Malthusian population trap tell us that a) that there is a stage that income and population stop to grow.b) increased population has nothing to do with economic growth.c) There is point in which population is not contributing to labor increases.d) trade routes of people is responsible for population growth. .e) there is inequality in income there fore population is affectedarrow_forwardEconomists measure economic growth as the a. percentage change in GDP deflator b. percentage change in real GDP c. absolute change in real GDP d. percentage change in nominal GDParrow_forward
- the growth rate of potential GDP is not affected by a. the growth rate of nation's capital stock b. the growth rate of the labor force c. the rate of technological progress d. environmentalist' ability to pass regulationsarrow_forwardThe growth rate of potential GDP is not affected by a. the growth rate of the labor force. b. environmentalists’ ability to pass regulations. c. the rate of technological progress. d. the growth rate of a nation’s capital stock.arrow_forwardIn the country of Azard, businesses use new smart cell phones to speed up many tasks such as sales recording, inventory checks, purchase orders etc. Which components of growth are recorded here? Human and physical capital Human capital and technology Technology only Physical capital and technologyarrow_forward
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