Why is GDP per capita useful as a measure of living standards? What are the limitations of GDP per capita as a comparable measure of living standards? Gross Domestic Product (GDP) measures the monetary value of final goods and services produced in a given year by factors of production within a country. GDP reports are released on the last day of each quarter‚ reflecting the previous quarter. Therefore‚ it is measured on a quarterly basis and measures the level of economic growth in different countries
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The underground economy consists of concealed legal economic activities undertaken to evade taxes or illegal economic activities (i.e.‚ trafficking‚ drugs‚ and prostitution) with unreported barter and cash transactions that take place outside recorded market channels. These types of barter and cash transactions are hard for government authorities to trace and are the lifeblood of the underground economy. These underground activities are often very productive and are not included in the gross domestic
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P5. Homeostasis is the process by which a constant internal environment is maintained by our body. For instance‚ this means that in our body‚ temperature‚ blood sugar levels‚ etc must be kept within a narrow range even when we are in a freezing climate‚ or while doing vigorous exercise etc. All homeostatic control mechanisms have at least three interdependent components which are: The receptor responds to changes in the environment‚ for example‚ detects temperature change. Then‚ after the receptor
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ECONOMY OF UKRAINE 1. Economic History Note 2. Economic Overview 3. Industry 4. Agriculture 5. Services 1. Economic History Note Ukraine’s economy has historically been determined by such factors as its advantageous geographic location at the crossroads between Europe and Asia‚ an abundance of the most fertile topsoil called chornozem‚ a rich base of natural resources and a productive labor force. Metals and minerals like coal‚ iron ore‚ gas‚ stone‚ sand and salt
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Determination‚ strength‚ hope‚ endurance‚ perseverance‚ and love are only a few words to describe the readers feelings while reading this story. The author‚ Eudora Welty‚ screams-silently through her gently placed words in story‚ “A Worn Path”. The inspiring and encouraging phrases spoken to someone‚ “never give up”‚ “keep fighting”‚ “never back down”‚ are the unspoken feeling through the characters perseverance‚ determination‚ and love. The tone in the story is displayed through life of a black
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years [CA Innocence Project‚ 2009]. It’s simply a disciplinary act that needs to be eliminated. Wouldn’t it be more efficient for Guilty people to sit in jail and live with what they have committed? To think about what they have done day in and day out‚ to have the world judge them and to know that family and friends has shunned them from their lives‚ because of the things that they have done in the past. They may not get over it today‚ maybe not even tomorrow but after a life time of sitting in the
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From Wikipedia‚ the free encyclopedia Economy of Nepal Nepal Rastra Bank in Kathmandu Currency 1 Nepalese Rupee (NPR) = 100 paisa Fiscal year 16 July - 15 July Trade organizations WTO Statistics GDP $41.22 billion (2012 est.)[1] GDP growth 4.6% (2010 est.) GDP per capita $1‚600 (2010 est.) GDP by sector agriculture (35%)‚ industry (20%)‚services (45%) (2010 est.) Inflation (CPI) 8.6% (September 2010 est.)‚ 10.6% (October 2011 est. source: myrepublica.com) Population belowpoverty
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1. Why do economists use real GDP rather than nominal GDP to gauge economic well-being? Real GDP is the production of goods and services valued at constant prices. Nominal GDP is the production of goods and services valued at current prices. Real GDP rather than nominal GDP to gauge economic well-being because real GDP is not affected by changes in prices‚ so it reflects only changes in the amounts being produced. If nominal GDP rises‚ you do not know if that is because of increased production or
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Sample Real GDP Calculation Econ 102-1 Alley Nominal GDP is calculated by summing the value of goods and services produced in a given year using the prices of these outputs in that year. If the general price level increases or decreases from one year to the next‚ it is difficult to compare the amount of output that a country produces across different years. To correct for this‚ we want to value output in every year using the same prices. In other words‚ we calculate real GDP. Consider the
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2.0 Kinematics of Linear motion is defined as the studies of motion of an objects without considering the effects that produce the motion. There are two types of motion: Linear or straight line motion (1-D) with constant (uniform) velocity with constant (uniform) acceleration‚ e.g. free fall motion Projectile motion (2-D) x-component (horizontal) y-component (vertical) 2 Learning Outcome: 2.1 Linear Motion (2 hour) www.kmph.matrik.edu.my At the end of this chapter
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