By how many times, respectively, did benefits, environmental costs, and social and economic costs increase between 1950 and 2004? How are trends in each of these components driving the overall trend between the GPI and the GDP? Which component has gotten the worst over the years? How would you account for these trends?
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By how many times, respectively, did benefits, environmental costs, and social and economic costs increase between 1950 and 2004? How are trends in each of these components driving the overall trend between the GPI and the |
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- Gross domestic product (GDP) is a measurement of the total value of all goods and services produced in the United States over a given time period. It is used by economists, government officials, market forecasters and others to gauge the overall health of the U.S. economy. How do consumers drive the nation's GDP?As you learned in the most recent chapter, GDP is the broadest measure of economic health in the U.S. Therefore, the discussion forum for the week will ask you to discuss GDP in your own words. Specifically, Business leaders, Government officials, and investors are often fixated on GDP results and economic growth. Why? What does it matter? The same level of interest is given to productivity. What is it and why does it matter in the scheme of things? What does GDP fail to tell us?GDP is very widely used throughout the world as a measure of Economic health. Give an example, either real or a scenario, that shows a flaw with using GDP as the only indicator of the well being of a society.
- Between 2000 and 2017, real GDP per person grew, on average, 1% per year in the United States. Did this GDP growth benefit all Americans? What does this tell us about the limitations of GDP as a measure of living standards?A country has just one resource - labor - that it can use to produce two goods, books and clothing. At first the country has 10 million workers, and each worker can produce either 2 books or 5 units of clothing per day. Suppose the country wants to produce 8 million books. Suppose the price of a book is $10, and the price of a unit of clothing is $20. Using this information and your answer from the last question, calculate the country's GDP (measured in dollars per day). Enter your answer as a number in the space below. (For example, if your answer is $3.75 million, enter it as 3750000 in the space below.)You are discussing economic growth and the economic cycle with a group of colleagues in an effort to forecast the growth in an economy that is demonstrating an increase in investment, rising employment, and growing business confidence with slowly rising prices. Your discussion has encompassed the distinction between GDP and GNP and the importance of leading indicators for forecasting purposes. Based on this information, answer the following three questions. In national income accounting, what is the difference between gross domestic product (GDP) and gross national product (GNP)? GNP equals GDP plus domestic production/earnings by foreign companies/citizens ,minus foreign production/earnings by domestic companies/citizens GNP equals GDP plus foreign production/earnings by domestic companies/citizens, minus domestic production/earnings by foreign companies/citizens GNP equals GDP plus imports minus exports GNP equals GDP minus government spending minus exports plus imports.
- According to the Bureau of Economic Analysis, the GDP Deflator for the 3rd Quarter 2021 is +5.7%. The U.S. Bureau of Labor Statistics reported the Consumer Price Index (CPI) as rising 5.4 percent over the last 12 months, not seasonally adjusted. Given this information: 1) Interpret these data and summarize its meaning. 2) What are these data measuring? 3) If you were a business economist, which would you use and why?1.1 Double counting can be avoided when computing GDP by: a) simply deducting a double-counting factor from the GDP estimates. b) adding the value of only the intermediate (non-final) goods and services produced. c) adding only the value contributed by firms at each stage of production. d) including the value of all output produced in the economy. 1.2 Which of the following conditions would not be studied by the macroeconomist? a) The level of national unemployment during 1988. b) The effect of government economic policy on the inflation rate during 1987. c) The effect of changing petroleum prices on the demand for coal. d) The effect of lower income taxes on the rate of economic growth.How to measure the economic impact of the smart city initiatives on GDP?
- When we consider the global GDP, we find two issues. Is it conceivable to take these factors into consideration when comparing GDPs, and what exactly are they?Find evidence that can explain how the difference in GDP influences the health of people who reside in that country. Here, you are identifying a determinant of health and at least one risk factor. Summarize what you found and justify the determinant of health and risk factor. Cite in - in text citation . explain in 4 sentences or more.Which of the following will be counted in the Gross Domestic Product for this year (2023)? A) A new 2023 Ford Escape that was just produced in Detroit during January 2023 and was recently sold to a consumer. B) A Ford Escape that was produced in Detroit during January 2023 and was ready for sale, but hasn't been sold yet. C) Each of the scenarios listed above would all count as U.S. GDP. D) A new 2023 Ford Escape that is manufactured within the borders of the U.S.