Decent measure for countrys standard of living

Assignment Help Business Economics
Reference no: EM13838168

How is it that China has the 2nd highest GDP in the world and is in the 90th place on GDP per Capita in the world? Is GDP per capita, a decent measure for a country's standard of living, why or why not?

Reference no: EM13838168

Questions Cloud

What are the capitals and labours shares of income : Consider the following production function. Y=K^5 (AN)^.5 , where both the population and the pool of labor are growing by rate n=.07, the capital stock is deprecciating at a rate of d= .03, and A is normalized to 1. What is the form of this producti..
Plan in healthcare : QI Plan in Healthcare •Identify what is a QI plan and its purpose. •Identify the components of a QI plan. •Identify the appropriate situation to use a QI plan
Increase in the population growth rate : Suppose there is an increase in the population growth rate. Show graphically how this affects the growth rate of both output per capita and total output in the short and the long run.
Current organizational structure : Annie is considering amending her current organizational structure. Using your reading try to advise her on what structure might work well to help solve her project problem. Annie currently has four leadership team members that each head up one divis..
Decent measure for countrys standard of living : How is it that China has the 2nd highest GDP in the world and is in the 90th place on GDP per Capita in the world? Is GDP per capita, a decent measure for a country's standard of living, why or why not?
Calculate the value of investment in the economy : Suppose that individuals in this economy invest 30% (use .30 in the graph) of what they produce; the labor force in this economy grows at 5% (use .05) per year; and 10% (use .1) of the capital stock wears out each year. Suppose that the capital labor..
Using the expenditure approach only : Given the figures provided, calculate the GDP for the country, using the Expenditure Approach ONLY. Show your work. National income = 1,000, personal consumption = 3,000, net private domestic investment = 1,500, government purchases = 2,000, exports ..
Transaction are included in the GDP calculations for year : Which of the below transaction(s) are included in the GDP calculations for the Year of 2012?
Suppose that capitals and labors shares : Suppose that capital's and labor's shares at .3 and .7. What would the effect be of increasing the pool of labor by 10 percent? If the increasing labor is due to population growth, will the resulting increasing have an effect on people’s welfare?

Reviews

Write a Review

Business Economics Questions & Answers

  Explain effects of the imposition of an export tax on good

Using a demand/supply diagram, illustrate and explain the effects of the imposition of an export tax on a good Y by a home country’s government on (i) the home country’s consumers of Y, (ii) the home country’s producers of Y, and (iii) the home gover..

  Accumulated large amounts of savings

When the Federal Republic of Germany (West Germany) absorbed the German Democratic Republic (East Germany) in 1990, residents of East Germany had accumulated large amounts of savings. Papers in the United States explored why East Germans saved so muc..

  Financial institutions affect businesses and households

In an essay of at least two well-developed paragraphs, explain how financial institutions affect businesses and households.

  Which swimmer should be assigned to every of the four stroke

The coach wishes to Conclude how to assign four swimmers to the four different strokes to minimize the sum of the corresponding best times.

  Price in excess of time

If the demand for gold residue high explain what would happen to the price in excess of time.

  Estimates for a proposed small public facility

Estimates for a proposed small public facility are as follows: Plan A has a first cost of $50,000, a life of 25 years, a $5,000 market value, and annual maintenance expenses of $1,200.

  Un millennium development goals

Can the researcher say with a 0.05 level of significance that the proportion of children not completing primary school is more than 1%.

  What is the nash equilibrium price charged by firm

The marginal cost of production is $1.40 to firm 1 and $3.20 to firm 2. The transportation cost is $1 per mile. What is the Nash equilibrium price charged by firm 1? What is the Nash equilibrium price charged by firm 2?

  Balnurs opportunity cost of production

In 2012, Balnur taught music and earned $20,000. She also earned $4,000 by renting out her basement. On January 1, 2013, she quit teaching, stopped renting out her basement, and began to use it as the office for her new Web site design business.

  How much should bond pay you in one year

Suppose current interest rate is 5% and you pay $250 for a bond. How much should bond pay you in one year.

  Consider an economy in which the amount of investment is

consider an economy in which the amount of investment is equal to the amount of savings i.e. the economy is closed to

  The circular flow diagram is model of how the economy works

the circular flow diagram is model of how the economy works. explain how the model would change if the following events

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd