3. Should there be separate measures of economic output (GDP) and Quality of Life? 4. If Per Capita GDP is not a good measure of quality of life, what would you propose as a better measure of quality of life in a country?
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- 4. GDP per capita shows how much gross domestic product each1. Write a short note on Human Development Index (HDI). Is HDI is a precise measure to find out the economic development of a nation.4. What are the criticisms with the two types of ranking (GDP and Per Capita)?5. Is there a better way to classify a country other than the use of GDP and per capita? Explain6. How is a country classified by the World Bank and the United Nations (UN) (see also textbook for more information)? Explain and illustrate.
- Use the table to answer the questions. Round your answers to the nearest cent. Country Gross domestic product (GDP) Population Country A $1.5$1.5 trillion 100100 million Country B $5$5 trillion 400400 million What is the GDP per capita for Country A? $ What is the GDP per capita for Country B? $ Which country has the largest average GDP per capita? Country B Country A28. Country A has a GDP-per-capita of $500, and Country B has a GDP-per-capitaof $75,000. Which of the following is NOT a plausible reason for Country B’s higherGDP-per-capita?(A) Country B has more open and inclusive economic and political institutions.(B) Country B has more natural resource wealth.(C) Country B has lower productivity.(D) Country B has more capital.GDP and GDP per-capita. a. Explain the difference between GDP and Per Capita GDP; b. Explain how to calculate Per Capita GDP, and how Per Capita GDP can be used.
- Why is average GDP per capita used In measuring standard of living for individuals in the economy?Please tell me which is the correct awnser for question 1.1 below there is nothing missing please just tell me which awnser or aawnsers are correct thank you Select one or more: a. If Country C's GDP per capita rises from $2,500 to 7,500, and Country D's GDP per capita rises from $6,000 to 18,000, the ratio of GDP per capita between the two countries is unchanged. b. If a country’s GDP doubles every 50 years on a ratio scale graph against time it will rise at an increasing rate. c. Country B is growing a higher percentage rate than Country A, but Country A is 5 times richer than Country B. On a linear scale graph against time the gap between the two lines must be narrowing. d. Country E is growing at the same percentage rate as Country F, but Country E is 3 times richer than Country F. On a log scale graph against time the gap between the two lines will be constant.The real GDP per person in a country A has grown about 4 percent per year. When this country' GDP will be double?