Chapter 32: Q. 12. (page 782)
What is the primary way in which economists measure standards of living?
Short Answer
GDP per capita is one of the most important tool which is used by economists to measure the standard of living.
Chapter 32: Q. 12. (page 782)
What is the primary way in which economists measure standards of living?
GDP per capita is one of the most important tool which is used by economists to measure the standard of living.
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Get started for freeRetrieve the following data from The World Bank database (http://databank.worldbank.org/data/ home.aspx) for India, Spain, and South Africa for the most recent year available:
• GDP in constant international dollars or PPP
• Population
• GDP per person in constant international dollars
• Mortality rate, infant (per 1,000 live births)
• Health expenditure per capita (current U.S. dollars)
• Life expectancy at birth, total (years)
What do international flows of capital have to do with trade imbalances?
Using the research skills you have acquired, retrieve the following data from The World Bank database (http://databank.worldbank.org/data/ home.aspx) for India, Spain, and South Africa for 2010–2015, if available:
• Telephone lines
• Mobile cellular subscriptions
• Secure Internet servers (per one million people)
• Electricity production (kWh)
Prepare a chart that compares these three countries. Describe the key differences between the countries.
Retrieve the unemployment data from The World Bank database (http://databank.worldbank.org/data/ home.aspx) for India, Spain, and South Africa for 2011-2015. Prepare a chart that compares India, Spain, and South Africa based on the data. Describe the key differences between the countries. Rank these countries as high-, medium-, and low-income countries. Explain what is surprising or expected about this data. How did the Great Recession impact these countries?
Explain why is it difficult to set aside funds for investment when you are in poverty.
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