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gross domestic product
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What is the best measure of Ghana's economic activities on Gross domestic product or Gross national product Explain?
Gross domestic product measure the total output produced from within the countries boarders. Gross national product measures the output generated by a countries enterprises. The best way to measure Ghana's economic activities would be to use gross domestic product.
How to measure productivity?
total output / units of labour or capital
Why is GDP an imperfect measure of the total production in the economic?
because it include all production values, so it is imperfect measure of the total production in the economic.
Why do economics measure the gross domestic product?
Economists use real GDP per capita rather than simply real GDP. This is because population growth is an important variable (per capita), and so, real GDP per capita is the more accurate measurement of the GDP.
Gross domestic product is a measure of the?
It's the total economic output of a country. In layman's terms: how much money (as a measure for value of production, adjusted or not for inflation, the first being called "Real GDP" and the second "Nominal GDP") did the country produce in a year, plus exports, minus imports.
How do you measure productivity?
Partial measures output/(single input)Multi-factor measures output/(multiple inputs)Total measure output/ (total inputs)Productivity =(Outputs/inputs)
What is the best measure of Ghana's economic activities on Gross domestic product or Gross national product Explain?
Gross domestic product measure the total output produced from within the countries boarders. Gross national product measures the output generated by a countries enterprises. The best way to measure Ghana's economic activities would be to use gross domestic product.
Why is GDP an imperfect measure of the total production in the economic?
because it include all production values, so it is imperfect measure of the total production in the economic.
How to measure productivity?
total output / units of labour or capital
Why do economics measure the gross domestic product?
Economists use real GDP per capita rather than simply real GDP. This is because population growth is an important variable (per capita), and so, real GDP per capita is the more accurate measurement of the GDP.
Gross domestic product is a measure of the?
It's the total economic output of a country. In layman's terms: how much money (as a measure for value of production, adjusted or not for inflation, the first being called "Real GDP" and the second "Nominal GDP") did the country produce in a year, plus exports, minus imports.
Economic growth occurs when a nation's total output of goods and services increases over time. True or False?
true
What is Harrad domar model in economic development?
It is the idea that the economic growth is dependent on capital-output ratio (k, calculated as: Total output produced/total capital invested i.e. efficiency) and the saving ratio of the population. The assumptions it makes are: - Output is a function of capital stock - The marginal product of capital is constant. - Capital is necessary for output - The product of the savings rate and output equals saving which equals investment - The change in the capital stock equals investment minus the depreciation of the capital stock It states that Rate of growth of GDP = Savings ratio/ Capital output ratio.
What is the appropriate measure of government s involvement in economic activity?
it is the share of government spending in total spending in the economy
Three equivalent ways to measure GDP are?
1. Output: i.e. the total value of the output of goods and services produced in the UK.2. Spending: i.e. the total amount of expenditure taking place in the economy.3. Incomes: i.e. the total income generated through production of goods and services
What is output growth?
A growth in the total output produced.
When total output is maximized marginal output is?
Negative
