GDP per capita and quality of life The following table lists gross domestic product (GDP) and...
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GDP per capita and quality of life The following table lists gross domestic product (GDP) and approximate population for four countries in 2013. Note that GDP is given in millions of U.S. dollars (USD). For example, a value of 16,800,000 suggests that U.S. GDP was approximately $16.8 trillion in 2013. GDP per capita, however, is simply given in dollars (USD). Calculate GDP per capita for each country and enter it in the fourth column of the table. GDP GDP per capita (USD) (Millions of USD) Population 129,856 156,594,962 16,800,000 2,734,949 1,951 Country Bangladesh United States France Liberia Source: "The World Bank 316,128,839 66,028,467 4,294,077 4 the quality of life in Bangladesh, Based on your calculations of GDP per capita, the quality of life in France is probably What are some of the problems associated with using GDP per capita to compare the quality of life among countries? Check all that apply. GDP per capita does not measure the income distribution within the country. GDP is a better measure, since a country with high GDP per capita may still have low GDP The estimates of GDP per capita in less-developed countries tend to have greater measurement errors than those from industrially advanced countries. Fluctuating exchange rates may misrepresent the actual differences in the value of goods and services produced. GDP per capita and quality of life The following table lists gross domestic product (GDP) and approximate population for four countries in 2013. Note that GDP is given in millions of U.S. dollars (USD). For example, a value of 16,800,000 suggests that U.S. GDP was approximately $16.8 trillion in 2013. GDP per capita, however, is simply given in dollars (USD). Calculate GDP per capita for each country and enter it in the fourth column of the table. GDP GDP per capita (USD) (Millions of USD) Population 129,856 156,594,962 16,800,000 2,734,949 1,951 Country Bangladesh United States France Liberia Source: "The World Bank 316,128,839 66,028,467 4,294,077 4 the quality of life in Bangladesh, Based on your calculations of GDP per capita, the quality of life in France is probably What are some of the problems associated with using GDP per capita to compare the quality of life among countries? Check all that apply. GDP per capita does not measure the income distribution within the country. GDP is a better measure, since a country with high GDP per capita may still have low GDP The estimates of GDP per capita in less-developed countries tend to have greater measurement errors than those from industrially advanced countries. Fluctuating exchange rates may misrepresent the actual differences in the value of goods and services produced.
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Business Statistics
ISBN: 9780321925831
3rd Edition
Authors: Norean Sharpe, Richard Veaux, Paul Velleman
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