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No not necessarily GDP does not take into account the conditions of the citizens of a country only the amount of product sold by those in power.
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Why is Real GDP is preferred to nominal GDP as a measure of economic performance?
nominal GDP uses current prices and thus may over- or understate true changes in output.
What is The single most important measure of the economy's overall economic performance?
Gross Domestic Product (GDP)
What are the top three economies in the world?
Here are the top 3 economies as of 2009... 1. China ( Approximate GDP- $7,043,000,000,000 ) 2. Japan ( Approximate GDP- $4,305,000,000,000 ) 3. India (Approximate GDP- $2,965,000,000,000 )
Advantages and disadvantage of using the GDP as a measure of productivity and economic health?
The advantages of using GDP as a measure of productivity and economic health is that GDP is universal and can be used to measure an economy's growth or decline. The disadvantage of using GDP as a measure of productivity and economic health is that it does not effectively measure the quality of products.
Is GDP a good measure?
no
Why is Real GDP is preferred to nominal GDP as a measure of economic performance?
nominal GDP uses current prices and thus may over- or understate true changes in output.
What is The single most important measure of the economy's overall economic performance?
Gross Domestic Product (GDP)
What are the top three economies in the world?
Here are the top 3 economies as of 2009... 1. China ( Approximate GDP- $7,043,000,000,000 ) 2. Japan ( Approximate GDP- $4,305,000,000,000 ) 3. India (Approximate GDP- $2,965,000,000,000 )
Advantages and disadvantage of using the GDP as a measure of productivity and economic health?
The advantages of using GDP as a measure of productivity and economic health is that GDP is universal and can be used to measure an economy's growth or decline. The disadvantage of using GDP as a measure of productivity and economic health is that it does not effectively measure the quality of products.
Is China ranked in the top 10 economies rated by GDP?
According to the United Nations, China is one of the top 10 economies rated by GDP. In fact, they are second behind the United States and one position ahead of Japan.
What is the GDP of Antarctica?
Antarctica has no 'income', no economy, no permanent population,, government or gross national product. Antarctica is a continent dedicated to science. All temporary workers there are supported by governments representing 80% of the earth's population.
Is GDP a good measure?
no
What is GDP per capita used to measure?
The GDP per capita is used to measure a country's standard of living. It is calculated by dividing the country's GDP by its population, which better allows comparison of GDP between countries.
What does GDP gap measure the difference between?
GDP Gap measures the percent difference in Real and Potential GDP
Do command economies have a higher GDP?
People are less likely to be creative if people are telling them what and how to work. Even though China is a successful command economy, for the most part command economies do not have a higher GDP. A healthy government allows people to higher standard of living which affects education, living standards, literacy, health, and most importantly for this question, GDP.
Which countries have the largest economies in the world?
With a GDP (PPP) of $14,720,000,000,000 USD, the United States is the largest economy. The US is followed by China (#2) with a GDP of $ 9,872,000,000,000; Japan (#3) with a GDP of $ 4,338,000,000,000; and India (#4) with a GDP of $4,046,000,000,000; and Germany with a GDP of $2,951,000,000,000. All figures from CIA World Factbook 2010 - GDP estimate expressed as PPP
How does a country measure its economic health?
GDP.. this is the answer.
