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Chapter 19: Q 2. (page 471)

What are the drawbacks to analyzing the global economy on a regional basis?

Short Answer

Expert verified

Some high-income countries and some low-income countries can coexist in an area.

Step by step solution

01

Step 1. Define global economy.

The global economy is made up of all activities that take place both within and across countries.

02

Drawbacks to analyzing the global economy on a regional basis

Drawbacks are as follows:

Some high-income countries and some low-income countries can coexist in an area.

Aggregating data for a region has little value because per capita real GDP will vary greatly between countries within a region.

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