You find that real GDP per capita in Burundi is $800 while real GDP per capita in

Question:

You find that real GDP per capita in Burundi is $800 while real GDP per capita in the United States is $50,000. What is misleading about these figures when comparing standards of living?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Macroeconomics

ISBN: 978-1259663048

10th edition

Authors: David C. Colander

See More Books

Question Posted: Dec 05, 2018 07:50 AM

See More Questions

Answer these questions about GDP: a. Could next years real GDP exceed next years nominal GDP? b. Could real GDP grow at the same time that real GDP per capita falls? c. Could peoples real consumption...
State whether each of the following statements is true or false, and explain your reasoning briefly. Assume in each case that the population remains constant. a. A permanent increase in employment...
Answer the following questions about real GDP per capita: a. If Country A had 4 times the initial level of real GDP per capita of Country B and it was growing at 1.4 percent a year, while real GDP...
If the working papers correlating with this textbook are not used, omit Problem 2-5B. The following records of A-Aall Electronic Repair are presented in the working papers: Journal containing...
The Bureau of Labor Statistics conducts surveys on consumer expenditures for various types of entertainment and publishes its findings in Consumer Expenditure Survey. Independent random samples...
A string of length 0.650 m and a linear density of 2.02 x 10-3 kg/m is vibrating in the fundamental harmonic mode even as the tension is increased over time. How many oscillations does the string go...
A suitable drive for comparatively larger centre distance is (a) chain drive (b) gear drive (c) belt drive (d) rope drive
Ian purchased 100 shares of Peach Computer stock for $18 per share, plus a $45 brokerage commission. Every 6 months she received a dividend from Peach of 50 cents per share. At the end of 2 years,...
A pitcher throws a 0.60 kg ball of clay at a 4.0 kg block of wood. The clay sticks to the wood on impact, and their joint velocity afterward is 2.5 m/s. What was the original speed of the clay (in...
What are some basic database functions that a spreadsheet cannot perform.
Is the currency in your pocketbook or wallet a real or a financial asset? Why?
Joan, your study partner, has just made the following statement: A loan is a loan and therefore cannot be an asset. Is she correct? Why or why not?
Go to the website for the Children's Advertising Review Unit (CARU), one of the major self-regulatory bodies for children's advertising, at www.caru.org. Click on the About Us and examine the...
Why might the price increases described in the news clip be against the social interest and benefit only the producer? A congressional inquiry report says the price of doxycycline, a generic...
Why might an increase in the gas tax to finance transportation infrastructure be a political equilibrium? The American Society of Civil Engineers says more than 550 of New Jerseys bridges need major...
Classify each of the following items as a public good, a private good, a natural monopoly good, or a common resource. Explain your answer. Highway patrol services Internet service Fish in the...
A law change will make it easier for broadband providers to charge higher prices for connections to the main arteries of their networks. Another law change will ease the limit on how many stations a...
Classify each of the following goods as a private good, a public good, a natural monopoly good, or none of the above. Chewing gum Cable TV The New York City subway A skateboard The Santa Monica...
A, B, and C are inbred strains of mice, assumed to be completely homozygous. A is mated to B and B to C. Then the A B hybrids are mated to C, and the offspring of this mating are mated to the B C...
Consider the activities undertaken by a medical clinic in your area. Required 1. Do you consider a job order cost accounting system appropriate for the clinic? 2. Identify as many factors as possible...
Do you favor debt forgiveness to all the DVCs, just the poorest ones, or none at all? What incentive problem might debt relief create? Would you be willing to pay $20 a year more in personal income...
What types of products do the DVCs typically export? How do those exports relate to the law of comparative advantage? How do tariffs by IACs reduce the standard of living of DVCs?
Do you think that IACs such as the United States should open their doors wider to the immigration of low-skilled DVC workers in order to help the DVCs develop? Do you think that it is appropriate for...
Use matrices (row-echelon form) to solve the following system of linear equa- tions. If the system has no solution, say that it is inconsistent. 3x + 2y = 7 x+y=3
For the following function : f(x) = 1/3 x^3 + 4x^2 + 16x a. Determine the critical points. b. Calculate the second derivative c. Determine if the function is concave up or down or not concave d....
2. An activity director for a cruise ship has surveyed 240 passengers. Of the 240 passengers; 135 like swimming, 150 like dancing, 65 like games, 80 like swimming and dancing, 40 like swimming and...

You find that real GDP per capita in Burundi is $800 while real GDP per capita in

Question:

Step by Step Answer:

One must be careful when comparing real GDP per capita between countries Two reasons are 1 GD...View the full answer

Macroeconomics

Students also viewed these Business questions