dollars worth of products per person in South Korea each year. South Korea has a Gross Domestic Product (GDP) of one trillion fourteen billion five hundred million US dollars. Compared to the BRIC countries South Korea is fairly close except for the case of China who has a GDP of almost six trillion US dollars. (Google.com‚ 2012) (See appendix A2) South Korea has a Purchasing Power Parity (PPP) GDP of one trillion five hundred forty nine billion US dollars. They are compared at thirteenth in the world
Premium Integers United States United States dollar
NIGERIAN ECONOMY/GDP AND PRODUCTION Nigeria recorded a Current Account surplus of 11.60 percent of the country’s Gross Domestic Product in 2011. Current Account to GDP in Nigeria is reported by the African Economic Outlook. Historically‚ from 1980 until 2011‚ Nigeria Current Account to GDP averaged 1.2 Percent reaching an all time high of 37.9 Percent in December of 2008 and a record low of -18.7 Percent in December of 1986. The Current account balance as a percent of GDP provides an indication
Premium Balance of trade Balance of payments Macroeconomics
assignment 1 Exercise 9.1 Data description Country: Mexico Indicator: Real GDP per capita (Constant Prices: Chain series) (I$ in 2005 Constant Prices) Name of variable: rdgp Frequency: Annual Period: 1950-2007 Number of observations: 58 Our first task is to compute the trend component of GDP: Let’s use the method described in Doepke’s book. First of all we need to compute the growth rate of real GDP for each period: we will create new variable GRATET it shows us the economic growth
Premium Menstrual cycle Economics Gross domestic product
average for the said period is 5.03%[1]. This trend is both important and significant for Pakistan. It is because this almost five percent growth rate is accompanied by growth in the capital stock which approximates around 17 to 18 percent of the GDP[2]. This accumulation of resources shows a trend‚ that incremental capital-output ratio (COR) is low in Pakistan than a number of East Asian‚ South Asian and Latin American countries.[3] Existence of this situation justifies a detailed study of the
Premium Economic growth Economics Inflation
A GDP comparison of India and China China and India are the two giant’s economies of Asia‚ which are now regarded as the “success stories” for their massive economic development for the past two decades. On their way to economic growth they have more dissimilarities than similarities. The most common things among them are their ancient civilizations‚ population‚ covering substantial geographical areas and developing economies of the world. They both apparently benefited from globalization as well
Premium Inflation Macroeconomics Monetary policy
Discuss how the government can use discretionary fiscal policy and automatic stabilisers to stabilise fluctuations in real GDP. What tools does the government have at its discretion to stabilise the economy? Suppose the government decides to decrease income taxes. Show in a diagram and explain how this policy will lead to an increase in real GDP. Explain how potential output may be affected. A discretionary fiscal policy refers to deliberate changes in the level of government spending‚ transfer
Premium Public finance Macroeconomics Keynesian economics
GDP – Gross Domestic Product “GDP is the market value of all final goods and services produced within a country in a given period of time.” GDP‚ which measures the total income of a nation. GDP is the most closely watched economic statistic because it is thought to be the best single measure of a society’s economic well-being. Gross Domestic Product (GDP) Gross domestic product (GDP) is the market value of all officially recognized final goods and services produced within a country
Premium Gross domestic product Macroeconomics Economics
BRIC NATION GDP ANALYSIS (Source: www.laresearchgroup.com) Since the late 1990s‚ the BRIC nations’ growth has increased than that of the United States and the European Union. As such‚ the BRIC countries have been increasingly referred to as a symbol of a shift in the global economic away from the developed G7 economies towards the developing world. The G7 is a group consisting of the finance ministers of seven industrialized nations: the U.S.‚ U.K.‚ France‚ Germany‚ Italy‚ Canada and Japan.
Premium Inflation Russia India
GDP Per Capita and Corruption 4/14/13 In my analysis of corruption‚ I chose to see how corruption affects the per capita income of families‚ households around the world. GDP is one of the most important factors in determining how well people in a given country live. Typically the higher the per capita GDP is‚ the better quality of life the people in that nation are able to derive. With less corruption throughout the world‚ I believe that GDP will have an easier time growing. The nation of Sri
Premium Economic growth Gross domestic product Regression analysis
The Gross Domestic Product (GDP) The Gross Domestic Product (GDP) of a country is commonly defined as the total market value of all final goods and services produced in a country in a given year. The fact that it is measured regularly and quite consistently in practically all countries of the world allows a direct comparison of the standard of living in individual countries. The frequent measuring also makes it possible to quickly recognize changing trends. For example‚ it is used to
Premium Economics Gross domestic product Distribution of wealth