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- Retrieve 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 • GOP 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)Discuss the merits and demerits of real GDP per capita a measure of a country’s living standardAside from the GDP, what other measures may we use to better understand the level of development of economies? Why should we utilize this particular measure?
- High-income countries United States Canada Japan France Middle-income countries i China India Libya Low-income countries Burundi Haiti Ethiopia Average Growth Rate (2000-2018) of GDP Population. 1.7 1.9 0.7 1.1 9.5 6.8 -1.2 3.1 1.4 9.8 0.8 1.0 0.0 0.6 0.5 1.4 1.2 3.1 1.5 2.8 Per Capita GDP 0.9 0.9 0,7 0.5 9.0 5.4 -2.4 0.0 -0.1 7.0 Assuming the 2019 per capita GDP growth rate is equal to the average growth rate (2000-2018) provided in the table, estimate 2019 per capita GDP for each of the following countries: Instructions: Round your responses to the nearest dollar. a. Japan: $[ b. Haiti: SPer capita GDP measures?the measurement method of per capita income in Turkey has been changed in 2016.What is wrong with it?What’d happen to GDP per capita if Turkey has not made this revision?Do the other countries also apply such revisions?
- What cause GDP per capita to be low compare to its GDPPer capita GDP is used to measure a country's standard of living. What other economic factors impact the day-to-day life of citizens in a country?Distinguish between Gross Domestic Product (GDP) and Gross National Product (GNP). What are the basic problems facing for measuring national income a developing country like Bangladesh?
- In your opinion, will real GDP or per capita real GDP be a better indicator in measuring well-being of a nation?Which is NOT a source of convergence of GDP (Gross Domestic Product) per capita between rich and poor countries? a) Technology transfer b) International labor market c) Population growth d) Capital accumulationToday, the Service Sector(s) are the most important elements in the Global Economy, but unpacking the value-added contribution made by services is difficult and problematic. Why is this?