Question

The high-income economies of the world contain approximately __________ of the world’s population and produce and consume ___________ of the world’s gdp

Answer 1

The high-income economies of the world contain approximately 12% of the world’s population and produce and consume 60% of the world’s GDP.

Gross Domestic Product is a complete measure of U.S. economic activity. GDP measures the value of the very last goods and offerings produced in the u.s. (without double counting the intermediate items and services used up to provide them).

Gross domestic product is an economic measure of the market price of all of the very last goods and offerings produced in a selected term through international locations. Due to its complicated and subjective nature, this degree is regularly revised before being taken into consideration as a reliable indicator.

GDP may be calculated by means of adding up all the money spent by using consumers, agencies, and the authorities in a given duration. It may additionally be calculated by means of adding up all the money received by all of the contributors to the economy. In either case, the wide variety is an estimate of "nominal GDP."

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