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Unemployment causes GDP to decrease. GDP means gross domestic product. If there are no employees to create a product, the GDP goes down.
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.
no
When the price copper goes down, the Chile economy also goes down. The Chilean economy relies heavily on copper; almost 20% of its exports and GDP is based on copper, so when it goes down, the economy is effected as it goes down.
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.
Unemployment causes GDP to decrease. GDP means gross domestic product. If there are no employees to create a product, the GDP goes down.
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.
no
GDP will decrease because, GDP is considered with the Quantity not with theQuality. Therefore Less service provided, cause less output, so GDP goes down.
When the price copper goes down, the Chile economy also goes down. The Chilean economy relies heavily on copper; almost 20% of its exports and GDP is based on copper, so when it goes down, the economy is effected as it goes down.
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.
GDP Gap measures the percent difference in Real and Potential GDP
GDP.. this is the answer.
Macroeconomic cost of unemployment
Would you say that real GDP per person is a useful measure of economic well-being ?Defend your answer.
Real GDP means Real Gross Domestic Product. It is an inflation-adjusted measure that reflects the value of all goods and services produced in a given year.
GDP is a measure, a better question is what affects GDP. GDP is, specifically a measure of a country's production. A higher GDP signals growth, efficient production, it may affect policy decisions, it may affect Federal Reserve decisions (money supply and interest rate, target inflation rate etc.)