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GDP (Gross Domestic Product)
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∙ 14y ago
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What is one important measure of a country's economic health?
"Gross domestic product" is the most commonly used as is the % growth or decline in that number.A key driver of economic growth is the degree of corruption in the country. This correlates very highly with retarded growth in the future.
The most important driver for economic growth appears to be?
The most important driver for economic growth is infrastructure. If a country has a sound infrastructure then businesses will come and increase the economy.
Which economic goal would be the most difficult to measure or to quantify?
Economic freedom.
The most basic economic system is?
command economy
Which of the following is a goal of the leaders of most economic systems?
The most basic economic institution in market economies is the system of markets.
What is one important measure of a country's economic health?
"Gross domestic product" is the most commonly used as is the % growth or decline in that number.A key driver of economic growth is the degree of corruption in the country. This correlates very highly with retarded growth in the future.
Economic growth has caused the relative prices of most basic natural resources to increase true or false?
True - More demand equals higher prices
The most important driver for economic growth appears to be?
The most important driver for economic growth is infrastructure. If a country has a sound infrastructure then businesses will come and increase the economy.
Which economic goal would be the most difficult to measure or to quantify?
Economic freedom.
The most basic economic system is?
command economy
What are the basic social economic necessities?
The most basic social economic necessities are food, drinking water, shelter, and clothing. Many other things are also desirable, but not as basic.
Which of the following is a goal of the leaders of most economic systems?
The most basic economic institution in market economies is the system of markets.
The natural resources that have most contributed to US economic growth are?
Obama
When markets or governments make economic decision about how to most efficiently convert their resources into goods and service what basic economic question are they answering?
Markets or governments make economic decisions about how to most efficiently convert their resources into goods and services. The basic economic question that is being answer is how to produce.
How does the disadvantages of economic growth outweigh the advantages?
In general, most economists disagree with this notion, arguing that economic growth has more advantages than disadvantages. Here are some reasons why:1) Economic growth and indicators of quality of life (such as education, basic services, access to food and water, life-span, etc.) are positively statistically correlated. This means that as economic growth increases, quality of life tends to increase.2) Although distribution of wealth is sometimes problematic for many people, even the poorest people in growing societies are better off than they would be without economic growth.3) Economic growth is logarithmic, which means that it is a positive feedback: more growth tends to increase growth and thus improves the well-being of society.4) In a system with increasing population, economic growth is required in order to maintain a base standard of living. That is, an economy must grow at the rate of population growth in order for standard of living not to fall.
Which basic economic question most relates to labor?
How to produce?. studyisland(:
What industry had the most significant impact on the economic growth of the US in the 1900s?
Your butt!
