In 2011, Finland had a GDP of $195 billion and a per capita GDP of $36,000. Life expectancy was about 79 years. Which of these additional factors would most support the conclusion that Finland has a developed rather than an emerging economy?

Finland has a free-market economy. More test answers on https://studyhippo.com/econ-honors-final-study-guide/

How do we compare per capita GDP between two nations?

Convert to common currency using an exchange rate- Set it up like moles and convert Example 1Dollar=3ESD Dollar Amount *(3 ESd/ 1Dollar) Flaws- This does account for 1.Non Tradable goods ( do not flow across borders) 2.Not represent Purchasing Power 3. Supply and Demand unaccounted More test answers on https://studyhippo.com/uncw-economics-429-growth-and-development-fall-2017/

Per capita GDP decreases when:

taxes increase More test answers on https://studyhippo.com/government-flash-cards/

Why is per capita GDP a better measure of development than a nations overall GDP

Per capita GDP shows how much of the nations product is being created per person rather than the total production of the country More test answers on https://studyhippo.com/economics-chapter-18/

Refer to the above table. Per capita GDP was about:

$303 in year 3 in Zorn. More test answers on https://studyhippo.com/chapter-8-economic-growth-a/

GDP divided by total population More test answers on https://studyhippo.com/econ-15/

(Consider This) North Korea’s command economy: Correct A. is one of the few remaining command economies. B. has grown much faster than South Korea’s economy since the two countries were divided after World War II. C. produces a per capita GDP of nearly $25,000. D. has undergone significant market reforms and is now one of the fastest-growing economies.

A. is one of the few remaining command economies. More test answers on https://studyhippo.com/econ130-exam-1-ch123/

8) Per capita GDP is a good indicator of all but which of the following? A) the approximate level of material well being in a country B) the number of countries below the poverty level C) the distribution of wealth within a country D) the spatial distribution of global wealth E) potential for providing all citizens with a comfortable life

C More test answers on https://studyhippo.com/aphg9/

Home Page Social Science Human Geography Development Geography Per Capita Gdp

Per Capita Gdp Flashcards, test questions and answers

Discover flashcards, test exam answers, and assignments to help you learn more about Per Capita Gdp and other subjects. Don’t miss the chance to use them for more effective college education. Use our database of questions and answers on Per Capita Gdp and get quick solutions for your test.

What is Per Capita Gdp?

Per capita GDP is a measure of the total output of a nation divided by its population. It can be used as an indicator of living standards and economic productivity within a country. By looking at per capita GDP, we can compare countries around the world to gain insight into their relative wealth and development levels. In order to calculate per capita GDP, economists first need to determine the Gross Domestic Product (GDP) of a given country or region. This includes all goods and services produced in one year within that area, including those which were sold overseas or consumed domestically by residents or non-residents alike. This provides an accurate estimate of economic activity in a given space over time. Once this number has been determined, it is then divided by the total population size to obtain Per Capita GDP figures.The higher the Per Capita GDP figure, the more prosperous and developed a country tends to be on average when compared with other nations around the world; however, there are several factors which could affect this statistic significantly even between two countries with similar populations sizes such as differences in income distribution, resource availability and production efficiency among others. As such, it is important not just to look at absolute numbers but also relative measurements between different regions if you want an accurate picture of how each country fares economically against its peers overall. Overall though, per capita GDP remains an effective metric for gauging how wealthy and productive individual countries are over time relative to each other thus providing us with valuable insights into global wealth disparities which can inform policy decisions both locally and internationally going forward.