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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.
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.
Why do economist say that real GDP should be used to measure growth in an economy and not nominal GDP?
Growth in real GDP is the only true indicator of weather or not an economy is growing.
What is a property boom?
A property boom is a real estate and economic term. It is often used interchangeably with 'bubble.' During booms there are periods of aggressive growth in the real estate and land markets.
How do economics measure the impact of technological progress on economic growth?
Economic growth is the increase of per capital GDP or other measures of aggregate income, typically reported as annual rate of change in real GDP. A variety of measures of national income/output are used in economics to estimate total economic activity in a country or region, including gross domestic product (GDP), gross national product (GNP), & net national income (NNI).
Why is real GDP per capita used to measure economic growth?
Because rulers are too short
What is the primary measure used to monitor aggregate economic activity?
The primary measure it looks at is the real GDP, which it considers to be the single best measure of aggregate economic activity.
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.
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.
Why do economist say that real GDP should be used to measure growth in an economy and not nominal GDP?
Growth in real GDP is the only true indicator of weather or not an economy is growing.
What is a property boom?
A property boom is a real estate and economic term. It is often used interchangeably with 'bubble.' During booms there are periods of aggressive growth in the real estate and land markets.
How do economics measure the impact of technological progress on economic growth?
Economic growth is the increase of per capital GDP or other measures of aggregate income, typically reported as annual rate of change in real GDP. A variety of measures of national income/output are used in economics to estimate total economic activity in a country or region, including gross domestic product (GDP), gross national product (GNP), & net national income (NNI).
What is an auxanometer?
An auxanometer is an instrument used to measure the growth of plants.
What is the use of Crescograph?
It is a device used to measure the growth of plants.
Which type of economic system was used by Joseph Stalin and Mao Zedong to accelerate the economic growth of their respective nations?
Market
What are the growth parameters of fish?
The growth parameters of fish vary depending on the type of fish that is being assessed. Growth parameters are used to determine the age of fish based on their size. A growth chart is used to measure growth parameters.
What consists of statistics used to measure different aspects of the economy?
economic indicator
