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

  Calculate banks excess reserves

This is the last question dealing with Sante Bank, which has the following (partial) list of accounts on its balance sheet: Calculate Sante Bank's excess reserves.

  Determine the payback period for the plant

A manufacturer plans to open a new plant. The new plant will cost $4,000,000 to build and make ready for production. Company management believes that the plant will produce a net profit of $150,000 in the first year and that profit will increase 5% p..

  Ticket price ceiling placed on a monopoly sports franchise

Explain with a graph and a verbal explanation how a ticket price ceiling placed on a monopoly sports franchise (that does not sell out its games) may actually lower ticket prices and raise attendance.

  Suppose belgium produces only two goods-chocolate and lace

Suppose Belgium produces only two goods, chocolate and lace. If Belgium has a comparative advantage in lace, a move toward free trade will

  Q1 explain why is dispute among international dependency

q1. explain why is dispute among international dependency and the neoclassical counter-revolution schools referred to

  Calculate the yield to maturity of the two bonds

The U.S. government issues a coupon bond with the coupon rate 5% and the maturity 20 years. The bond with a face value of $1000 is sold at a present value of $900. Calculate the yield to maturity of the two bonds. Are the two bonds sharing the same y..

  The wage-schooling locus for someone for whom returns

Draw the wage-schooling locus for someone for whom returns to schooling decrease through college but increase after college

  Divide the loss for the two situations by the daily wage

The firm currently uses 50,000 workers to produce 200,000 units of output per day. The daily wage per worker is $80, and the price of the firm's output is $25. The cost of other variable inputs is $400,000 per day

  Indicate the macroeconomic conditions of us economy

Find out statistics on the web from 2004 to present on the fillowing indicators of the macroeconomic conditions of U.S. economy:

  Occur to the level of domestic investment

Illustrate what would occur to the level of domestic investment.

  What percent of variation are restaurant sales explained

Which of the coefficients are statistically significant and which are not? Explain. d. What percent of variation are restaurant sales explained by this equation?

  Assume that economic growth is slower

Assume that economic growth is slower in the United States than in its trading partners. Given a system of floating exchange rates, will the impact of this growth differential be for the United States with respect to exports and the value of the doll..

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