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GDP only measure current production according to my lecture notes What is the definition of production. Goods PRODUCED?
Wiki User
∙ 16y ago
GDP per capita reflects the income of individuals, and can be used to compare countries whereas GDP reflects the total income in the economy and can't be used to compare economies with different populations. For example:
If the GDP of country A is 100 and country B is 200, it appears that country B is better off. But if country A has a population of 50 and country B has a popultion of 200, then each citizen in country A has an income of 2 and each citizen of country B has an income of 1, so country A is actually better off.
Wiki User
∙ 16y ago
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Describe the difference between real and current GDP?
The current GDP is the value of all products and services produced in a country. The real GDP is the value of all the goods and services produced and are expressed in current prices in a country.
What is the mobility of production that characterizes the current global economy?
Outsourcing
What production is the current US economy is based primarily?
Services.
What is production capacity?
Volume of products that can be generated by a production plant or enterprise in a given period by using current resources.
Curret world production of oil?
Current Oil Production in the World: 81,820,404.59 barrels per day (bbl/day)
Can the current trend by many US manufacturers to set up production facilities in China be viewed as a short or long term production strategy relating to profit maximization?
definition of mechanical production definition of mechanical production
What is the definition of direct current?
(a) A current flowing in one direction only; -- distinguished from alternating current. When steady and not pulsating a direct current is often called a continuous current. (b) A direct induced current, or momentary current of the same direction as the inducing current, produced by stopping or removing the latter; also, a similar current produced by removal of a magnet.
What is the definition of an inductive reactance?
Opposition to the flow of AC current produced by an inductor. Measured in Ohms and varies in direct proportion to frequency.
Is the current produced by voltage or is it viceversa?
Voltage is responsible for the production of current. voltage is the unit of electromotive force which gives the electrons a motion in a definite direction which we call current. voltage can exist without current(i.e. in open ckt.) but current can not without voltage.
What is the definition of ground gradient?
According to the IFSTA Essentials of Firefighting 5th Edition, a ground gradient is Produced by an electrical current passing from a downed power line through the ground along the path of least resistance.
Fact or opinion whales are mammals?
According to the current definition of mammals, whales ARE mammals. Treat it as fact not opinion.
What is the current produced by dry cells?
Alternating current.
Which current is produced by earth batteries?
alternating current
How are current produced?
ituiut
What is the definition of electric current the the units of electric current?
ampere
How many paths are there in a parallel circuit?
At least two paths. Current will divide between them according to their relative impedances.
What do you think will happen if the current trends in both population growth and in grain production continue?
If the population growth continues to grow at a rapid rate, the grain production won't be enough to feed everyone. If the current population continues to grow according to trend, there will not be enough grain to feed everyone.
