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Chapter 19: Q 8 (page 470)

Is it possible for GDP to rise while at the same time per capita GDP is falling? Is it possible for GDP to fall while per capita GDP is rising?

Short Answer

Expert verified

Yes it is possible for GDP to rise in this situation.

Step by step solution

01

Step 1. GDP

GDP is a type of monetary measure. this represents the calculated value of finished goods and services of a country or different countries for a specific period of time.

02

Step 2. Explanation

Answer to this question is yes.

It is possible for GDP to rise where at the same time per capita income is falling. The reason behind is very clear. The reason for following situation is:

03

Step 3. Reason

POPULATION

The answer to following situation depends on the population growing rate of economy.

If Population of country increases at faster rate than the GDP then the GDP rate will rise, but GDp per capita will decrease.

Same when population increases at slower rate than GDP, GDP rate of country will fall but GDP per capita will rise.

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Most popular questions from this chapter

A mortgage loan is a loan that a person makes to purchase a house. Table 19.11 provides a list of the mortgage interest rate for several different years and the rate of inflation for each of those years. In which years would it have been better to be a person borrowing money from a bank to buy a home? In which years would it have been better to be a bank lending money?

Country A has export sales of \(20billion, government purchases of \)1,000billion, business investment is \(50billion, imports are \)40billion, and consumption spending is $2,000billion. What is the dollar value of GDP?

The Czech Republic has a GDP of 1,800 billion koruny. The exchange rate is 25 koruny/U.S. dollar. The Czech population is 20 million. What is the GDP per capita of the Czech Republic expressed in U.S. dollars?

Which of the following are included in GDP, and which are not?

  1. The cost of hospital stays
  2. The rise in life expectancy over time
  3. Child care provided by a licensed day care center
  4. Child care provided by a grandmother
  5. A used car sale.
  6. A new car sale
  7. The greater variety of cheese available in supermarkets
  8. The iron that goes into the steel that goes into a refrigerator bought by a consumer.

According to Table 19.7, how often have recessions occurred since the end of World War II (1945)?
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