Match each definition with the appropriate measurement of economic output.

a. the market value of all final goods and services produced by resources owned by citizens of a particular country in a given year
b. GDP adjusted to base year prices
c. GDP divided by population
d. GDP adjusted for differences in the cost of living in different countries
e. the market value of all final goods and services produced by resources located in a particular country in a given year

WORD BANK
real GDP
GDP PPP
GNP
nominal GDP
GDP per capita

Answers

Answer 1

Answer:

a. GNP

b. real GDP

c. GDP per capita

d. GDP PPP

e. nominal GDP

Explanation:

Gross domestic product statistics come in a variety of forms designed to investigate different aspects of production and the standard of living.

Nominal GDP is the market value of all final goods and services produced in a given country in a given year. Nominal GDP uses the prices at which the goods actually sold to value them (market value), and is not concerned with intermediate goods, which are goods used as inputs in the production of some other good or service. GDP also uses everything produced within the borders of a particular country, regardless of who owns those resources. This means that Toyotas produced at a plant in Kentucky would count towards U.S. nominal GDP, but Fords produced in Mexico would not.

Gross national product, the measure most used by economists before the early 1990s, is very similar to nominal GDP. The only difference is that GNP uses output produced by resources owned by citizens of a particular country, regardless of where that production takes place. So for GNP, the Fords produced in Mexico would count towards U.S GNP, but the Toyotas produced in Kentucky would not.

The type of GDP used most often is real GDP. This is GDP with output valued at the prices from a designated base year rather than by the market prices at which products were actually sold. This removes increases in GDP which come from price increases, leaving only the increases in the actual production of goods and services.

Another popular GDP measure is GDP per capita, which is simply GDP divided by the population. GDP per capita reveals how much each person in a country would have if GDP were divided equally among the entire population. The actual distribution of income will not be even, of course, but it does give economists a good idea of the relative wealth of different countries.

International comparisons are often hampered by significant differences in prices between countries, particularly in the prices of services that are hard to trade, like taxi rides or haircuts. GDP PPP, or GDP adjusted for purchasing power parity, is an attempt to adjust statistics to allow for variations in the cost of living, to give a more realistic picture of the differences between nations.


Related Questions

Outline some of the issues facing women in the twenty-first century

Answers

Answer:

Women did not have the right to vote and were seen as less than equal to male. Women did not have real jobs or own anything to themselves. Instead, they stayed home and cooked, cleaned, and took care of kids.

Explanation:

If the government of Balancia runs a deficit of $50 million per year in Year 1 and in Year 2 due to its recession, but then has a $100 million surplus in Year 3 due to strong economic recovery, Balancia is likely following which type of rule?

Functional finance

Cyclically balanced budget

Biannually balanced budget

Annually balanced budget

Answers

Balancia is likely following the cyclically balanced budget

ECONOMICS

In which situation does the national debt decrease?

A. The federal government has a balanced budget.

B. The federal government has a decrease in the federal deficit from the previous fiscal year but still has a deficit

C. The federal government hwd a surplus in the budget

D. The federal government has an increase in the federal deficit from the previous fiscal year

Answers

Answer:

To reduce the debt, the country could raise taxes and/or cut spending. These are two of the tools of contractionary fiscal policy, and either tactic could slow economic growth.

Explanation:

When the federal government has a decrease in the national debt from the previous fiscal year, it implies a situation where the national debt decreases.

How does the government reduce the national debt?

There are several strategies used, one of the most common being the issuance of debt in the form of bonds so that the government can raise funds, and may adopt a policy of repurchasing the bonds if necessary, such as the "Quantitative Easing" policy in the US.

Therefore, in order to reduce the national debt, the government must stimulate the economy and identify strategies for raising money.

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High hills and mountains are common in

Answers

Answer:

The formation of both hill and mountain is due to different types of geological accumulations and reactions in the earth crest, most often due to faulting in the earth. Both a hill and a mountain usually have a summit, which is its highest point.

Answer:

mountains are commonly seen at the intersection of tectonic plates and in places where the Earth’s crust is relatively thin

Suggest a way to produce skilled human resource in your school,​

Answers

Answer: Some of the measures to produce skilled human resources in the country are:-

Providing practical and quality education to all.

Developing technical and vocational education system according to the need of the country.

Updating knowledge with developed information technology.

Formulating scientific education policy as per the demand of time.

By applying these measures a country can produce skilled human resources to utilize the natural means and resources for the development.

I hope this answer helped you! ^-^

Explanation:

HELP ASAP-WILL GIVE BRAINLIEST-NO FILES
How did voting in ancient Rome change over time?

A. Citizens started to vote on what was best for the whole of the Roman Empire.

B. Citizens only voted for what was best for the community

C. Citizens were required to vote based on the needs of others and not themselves.

D. Citizens began to vote based on self interest or what was best for themselves.​

Answers

Answer:

D

Explanation:

For the U.S. government, which of the given is NOT an example of discretionary spending?
a. Medicare
b. defense spending
c. science spending
d. Medicaid

For the U.S. government, which of the given is NOT an example of mandatory spending?
a. education spending
b. interest on the national debt
c. Social Security
d. Medicare

Which type of spending currently takes up a larger proportion of the U.S. federal budget?
a. Mandatory spending and discretionary spending take up an equal amount.
b. mandatory spending
c. discretionary spending

Answers

Answer:

- Medicare

- Education spending

- Mandatorym spending

Explanation:

Discretionary spending is subject to an annual appropriation process by Congress. In contrast, mandatory spending is authorized by permanent laws and therefore can not be easily changed.

The answer to the first question is that Medicare is not a type of discretionary spending. Medicare is a type of mandatory spending. Discretionary spending includes defense, science, income security (including Medicaid), transportation, environment, education, veterans' benefits and services, etc.

The answer to the second question is that education spending is not a type of mandatory spending. Spending on education is a type of discretionary spending. Mandatory spending includes Medicare, Social Security, interest on the national debt, food stamps, TANF (temporary assistance for needy families), etc.

The answer to the last question is that the majority of the budget is spent on mandatory spending items. Mandatory spending accounts for about 60%, whereas discretionary spending accounts for about 40%.

Which disease can be fought with better mosquito control?

A. Malaria
B. Cholera
C. Dysentery
D. HIV/AIDS

Answers

Answer:

A. Malaria

Explanation:

Malaria is a disease that is transmitted by mosquitoes in subtropical areas.

Answer:

a

Explanation:

who was the most important person in 1860

Answers

Answer:

M. Visvesvaraya, Lizzie Borden, Anton Chekhov, Jane Addams, Gustav Mahler and many more.

Explanation:

Use the table to answer the questions. Round your answers to the nearest cent.

What is the GDP per person (per capita) for country A?
What is the GDP per person for country B?

Which country has the largest average GDP per person?
- country A
- country B

Answers

Answer:

Country A = $20,000

Country B = $25,000

Country B

Explanation:

GDP per capita for country A = 7 trillion / 350 million = 20000

Country A = $20,000

GDP per capita for country B = 1.25 trillion / 50 million = 25000

Country B = $25,000

Since 20 million < 25 million

Country B has largest average GDP per year.

GDP per person can be thought of as the average output produced by each individual in a country. The country with the larger average GDP per person is country B. Notice that the country with the largest GDP does not necessarily also have the largest average GDP, because populations differ.

part of the job of representation in congress is to build this

(CROSS WORD, 9 letters total, 5th letter is E)

Answers

Congress is saddled with many responsibilities which include but are not limited to:

Making Laws, Impeaching and trying officers at the federal level,

Approval of presidential appointments, Oversights, and Investigations, etc.

What is the Congress?

Congress is the legislative part of the branch of the government of the United States of America that is vested with the power by the constitution to

enact legislationdeclare warconfirm or reject presidential appointments etc.

Part of the condition that enables Congress is Article I of the Constitution.

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Which of the following did NOT contribute to the diffusion of Byzantine culture throughout the region?

Answers

Answer:

Byzantine forms were spread by trade and conquest to Italy and Sicily, where they persisted in modified form through the 12th century, and became formative influences on Italian Renaissance art.

Explanation:

so the answer is C

ohn eats a bowl of cereal for 3 of his 4 meals each day. He finishes two gallons of milk in eight days. How much milk does John use for one bowl of cereal? (Assume he only uses the milk for his cereal.)

Answers

Answer:

1/2

Explanation:

he uses 1/2 For one bowl of cereal.

Which of the following items are made from renewable resources? Select the two correct answers
A electronics
B metal can
C leather jacket
D plastic fork
E printer paper

Answers

The answers are A, E, C

Explanation:

The items that are made from renewable resources includes:

leather jacketprinter paper

What is a renewable resources?

These resources include biomass energy, hydropower, geothermal power, wind energy, solar energy etc.

Hence, the leather jacket and printer paper are the items that are made from renewable resources.

Therefore, the Option C & E is correct.

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Look at the Map below. Which area was considered the Northwest Territory

Answers

Answer:

3

Explanation:

The Northwest Territory was established by the US Congress in 1787

1 = Free state

2 = Slave states

3 = Northwest Territory

4 = Slave states

Hope this helps!

What is the primary responsibility of congressional committees?

Answers

Answer:

Committees monitor on-going governmental operations, identify issues suitable for legislative review, gather and evaluate information, and recommend courses of action to the Senate.

Explanation:

there ya go

Which of the following sets what is
known as "Required Reserves?"

A. individual banks
B. Wall Street
C. Federal Reserve
D. U.S. Congress

…need help pls.

Answers

Answer:

i believe the correct answer is a

Write down one main question you would like to ask an elected official who may be weighing in on transgender rights issues.

Answers

Answer:

why would it be ok for a transgender person to be able to joining the opposite gender sports team

Explanation:

PLEASE HELP ME

Explain what the Radical Republican Plan for Reconstruction was?​

Answers

Answer:

New opportunities to African-American people

Explanation:

The Radical Republicans' reconstruction offered all kinds of new opportunities to African-American people, including the vote (for males), property ownership, education, legal rights, and even the possibility of holding political office. By the beginning of 1868, about 700,000 African Americans were registered voter's.

When particles of matter are in direct contact, conduction of thermal energy occurs in which states of matter?

Answers

Conduction is the direct transfer of heat energy between substance particles without the particles migrating to a new position. It often happens in solids.

What is conduction?

Conduction is the movement of heat from a hotter end of an object to a cooler end. The ability of a thing to conduct heat, denoted by the symbol k, is known as thermal conductivity. The body transmits heat, which causes heat to move through and inside it. In contrast, heat is routinely transported between bodies that are geographically distant when it occurs by thermal radiation. A combination of phonon propagation, diffusion, and collisions, as well as vibrations and collisions of molecules and free electrons, mediate conduction in solids. The concept of heat transfer by electromagnetic radiation in this case differs from that of heat conduction by microscopic diffusion and collisions of material particles and phonons since photons in this situation do not clash with one another.

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This was confrontation Between the soviet union and the united states over nucler missiles the soviets had allegedly deployed to cuba

Answers

The Cuban Missile Crisis

I need help is economic btw

Answers

Answer:

corporate income taxes

Explanation:

POEM COMPOSITION: Population - a group of organisms of the same species that live in a certain area. Carrying capacity can be defined as species’ average population size in a particular habitat. The species population size is limited by environmental factors like adequate food, shelter, water, and mates. If these needs are not met, the population will decrease until the resource rebounds.

Construct or compose a poem about the relationship between population and carrying capacity.
• Written in a short bond paper with margin on both sides.
• Must be presentable
• Submitted on time
• Your grades will be based using the rubric provided.

Answers

I don’t know ask your teacher they might know

what are the advantages of sheep and goat farming​

Answers

Hi!the advantages of sheep and goat farming is that Sheep and goats make very effective use of a variety of different grazing lands, including rocky mountain terrain and alpine pastures, which cannot be utilized by other domestic animals. They convert relatively inaccessible low quality forage to high quality meat, wool and fibre.

This event took place in the western Hemisphere from July 26, 1953, to January 1, 1959 resulting in the overthrow of Fulgencio Batista and the creation of a communist government.

Answers

The Cuban Revolution

Greg is "laid back." He is comfortable with himself and interacting with others. Greg is low in what?

Answers

Greg is low in intrapersonal communication which is communicating with oneself.

What is Interpersonal communication?

Interpersonal communication involve the exchange of information between two or more people.

It involves sharing of idea, perspective, emotions and feelings with people.

Therefore, Greg is low in intrapersonal communication which is communicating with oneself.

Learn more on communication here,

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Which of the following would be an example of expansionary fiscal policy?

a reduction in interest rates

a reduction in government subsidies to farmers

a reduction in income taxes on low-income earners

a reduction in unemployment benefits

Answers

A reduction in income taxes on low-income earners

Production and income taxes increases the level of disposable income, and this increases advocate demand. A cutting income taxes an example of expansionary physical policy.

The full employment level of real GDP is $6 billion for the recently formed island nation of Turtleopolis. Use the line segment to show long‑run aggregate supply on the graph.

Answers

Answer:

*see image*

Explanation:

The long‑run aggregate supply curve is vertical at the point of full employment GDP. In this case, it is $6 billion. A change in the price level will not affect the production capabilities of an economy in the long run. LRAS is at the same point of real GDP for every price level. The LRAS curve will shift when the economy experiences growth, but, even then, it will maintain its vertical shape.

Jonah is a 59-year-old man who regularly uses an illicit substance. If he is like most of the adults in this age bracket who use such compounds, what is most likely his drug of choice?

Answers

Answer:

Caffeine is definitely his drug choice

Caffeine is definitely his drug choice

What is the significance of illegal substances?

Illegal drugs can also be categorized by their main effects. There are four main types: stimulants, tranquilizers, narcotics, and hallucinogens. Illegal drugs in the United States are controlled by both the federal government and all 50 state governments.

Illegal drugs are drugs that are illegally possessed (cannabis, heroin, cocaine, etc.) and non-medical use of legally available drugs (eg B. Painkillers and sleeping pills).

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When should you start planning for retirement?
O You should start planning as soon as you decide on a career path.
O You should start planning after starting a job and buying a home.
You should start planning only after receiving an income tax refund so that the money
can be deposited immediately.
You should start planning after college graduation and after you have developed your
financial goals.

Answers

Answer: You should start planning as soon as you decide on a career path.

Explanation: The whole idea of retirement is to have something to look forward to. Choosing a career path will better help you get started in what exact steps you have to take in order to get yourself where you want to be. Working on a retirement plan too late becomes more stressful and you are less likely to make a good decision under the last-minute cramping of ideas.

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