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Chapter 19: Q 2. (page 471)

What are the drawbacks to analyzing the global economy on a regional basis?

Short Answer

Expert verified

Some high-income countries and some low-income countries can coexist in an area.

Step by step solution

01

Step 1. Define global economy.

The global economy is made up of all activities that take place both within and across countries.

02

Drawbacks to analyzing the global economy on a regional basis

Drawbacks are as follows:

Some high-income countries and some low-income countries can coexist in an area.

Aggregating data for a region has little value because per capita real GDP will vary greatly between countries within a region.

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Most popular questions from this chapter

Prepare a chart that compares India, Spain, and South Africa based on the data you find. Describe the key differences between the countries. Rank these as high-, medium-, and low-income countries, explain what is surprising or expected about this data.

Retrieve inflation data from The World Bank data base (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. Explain what is surprising or expected about the data.

In low-income countries, does it make sense to argue that most of the people without long-term jobs are unemployed?

What other factors, aside from labor productivity, capital investment, and technology, impact the economic

growth of a country? How?

What strategies did the East Asian Tigers employ to stimulate economic growth?
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