What is the ratio of real gdp in india to real gdp in the us

Assignment Help International Economics
Reference no: EM13222325

Indian GDP in 2000 was 20.9 trillion rupees, while U.S. GDP was $9.8 trillion. The exchange rate in 2000 was 44.9 rupees per dollar. India turns out to have lower prices than the U.S. (this is true more generally foor poor countires): the price level in India(converted to dollars) divided by the price level in the U.S. was 0.171 in 2000.

a) What is the ratio of Indian GDP to U.S. GDP if we don't take into account the differences in relative prices and simply use the exchange rate to make the conversion?

b) What is the ratio of real GDP in India to Real GDP in the U.S. in common prices?

c) Why are these two numbers different?

Reference no: EM13222325

Questions Cloud

What is the long-run cost and long-run average to produce : What is the long-run cost and long-run average to produce 120 units 180 units 240 units are there economies the output range 120 to 180 are there diseconomies between 180 and 240 Q L K 120 4 20 180 6 ..
What is the kinetic energy of the ejected electron : Pb atom is ionized using a photon of ultraviolet radiation having an energy of 1.86E-18 J, what is the amount of leftover energy that goes into the kinetic energy of the ejected electron
Describe the role of emotional intelligence : Describe the role of emotional intelligence (EI) in the effectiveness of a leader.
Which of the following categories of training objectives : Which of the following categories of training objectives is being emphasized in this scenario?
What is the ratio of real gdp in india to real gdp in the us : Indian GDP in 2000 was 20.9 trillion rupees, while U.S. GDP was $9.8 trillion. The exchange rate in 2000 was 44.9 rupees per dollar. India turns out to have lower prices than the U.S. (this is true more generally foor poor countires): the price le..
Which of the following categories of training objectives : Which of the following categories of training objectives is being emphasized in this scenario?
Closing process of a project : The closing process of a project is the last stage of the life cycle of a project, is to finalize all activities across all process groups of project management established in the PMBOK.
Which of the following potential errors in performance : Which of the following potential errors in performance appraisals has Laura committed?
Explain how globalization affects the gross domestic product : Identify 4 threats caused by globalization. Explain how globalization affects the gross domestic product (GDP).Explain your thoughts on globalization in your own words (e.g., is it bad or good Why or why not Does it affect all countries).

Reviews

Write a Review

International Economics Questions & Answers

  How the disaster of costa concordia off the coast of italy

In the cruise industry, one third of reservations are booked from january to march. Explain and diagrammatically show how the disaster of the costa concordia off the coast of italy will affect the market for cruises.

  What percent of gdp does the us spend on health care

What percent of GDP does the US spend on Health care The UK Canada Do you think the United States spends too much on medical care Explain your reasoning using the PPF model List and explain the 3 reasons for this increase.

  Why the factor are vital for success of construction project

The key factors that affect the success of international projects are: selecting the right projects, selecting the right parteners, providing an effective leadership Discuss why these factors are vital for the success of international construction pr..

  Preferred stock valuation

Authorized and available shares Aspin Company charter authorizes issuance of 2,000,000 shares of common stock. Currently, 1,400,000 shares are outstanding and 100,000 shares are being held as treasury stock.

  Cartel analysis

Petroleum products are in limited supply, what do you recommend the United States government should do to prepare for a shortage of gasoline? Describe your answer.

  American comparative advantage

Give some example of a good the U.S. would be considered to have a comparative advantage in producing. Why do you think the United States has this comparative advantage?

  Which country has an absolute advantage in cheese

Use the information in the table on labor productivities in France and Germany to answer the following question Output per Hour Worked France: cheese is 1 kilogram, cars is 0.25 car Germany: cheese is 2 kilograms, cars is 2 cars a. Which country has ..

  Production technology of a self proclaimed infant industry

Assume that the production technology of a self proclaimed infant industry allows economies of scale. Assume also that the same technology is available to foreign manufactures.

  Difference between average revenue and marginal revenue

Explain the difference between average revenue and marginal revenue. Discuss why are both of these revenue measures important to a profit-maximizing company?

  Explain the u.s. unemployment rate among black teenagers

The organization that develops and recommends to the U.S. President national economic policies to foster maximum employment, production, and purchasing power is the a. Joint Economic Committee

  Calculating the opportunity cost

Assume that the Kiribati can manufacture 1000 tons of breadfruit or 500 tons of fish, and that Tuvalu can manufacture 750 tons of breadfruit or 1875 tons of fish.

  Discuss comparative advantage

Assume that in England five man hours of labor are needed to make each cask of wine and five man-hours are needed to produce each bolt of cloth,

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