Catastrofes and big disasters
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
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.
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
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.
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.)
Real GDP reflects output more accurately than nominal GDP by using constant prices.
GDP per capita then you write it in dollars e.g the GDP per capita of the USA is $1.149 trillion
Real GDP is a measure of the economic output of a country. The absolute measure only tells you what that output was for a particular period. The more important measure for employment is the difference between real GDP and a theoretical real GDP which economists use to calculate the maximum output of an economy. When the gap between real GDP and maximum output GDP is large, the unemployment rate will be large and vice versa.
GDP - Gross Domestic Product GDP is a measure of the wealth of a country. It is worked out by dividing the total of the money by what a country gains from the production of goods and services by it's population. GDP is measured in US Dollars - $