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riadik2000 [5.3K]
3 years ago
8

A benefit of using GDP per capita instead of GDP is that GDP: takes into account the size of the population when measuring the v

alue of the goods and services a country produces. takes into account the differences in wealth between the rich and poor within a country. takes into account the environmental benefits or harm of economic activity. measures the effects of outliers skewing averages.
Business
1 answer:
sweet [91]3 years ago
7 0

Answer:

It takes population size into account when measuring the value of goods and services.

Explanation:

GDP per capita is gross domestic product divided by the total population of a given economy. Thus, unlike the GDP-only measure, which measures the absolute value of domestic production, per capita GDP assesses how much a country's economy is growing per individual, that is, it shows the evolution of production per person.

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Consider a Cobb-Douglas production function with three inputs. K is capital (the number of machines), L is labor (the number of
olga_2 [115]

Based on the above scenario, the production function is Y=K1/3L1/3H1/3.

<h3>What is  production function?</h3>

The word production function is known to be an equation that is said to be the one that shows the relationship between the quantities of productive factors (that is labor and capital) that are said to be used and also the number of product that has been obtained.

Note that from the above, the equation that stands for Cobb-Douglas production function with three inputs. K is capital (the number of machines), L is labor, and H is human capital  is Y=K1/3L1/3H1/3.

Learn more about production function from

brainly.com/question/25672041

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2 years ago
Robert Necco and Nelson Packard are economists at Economic Research Associates. ERA asks Necco and Packard for their opinions ab
Lorico [155]

Answer: B) Correct Incorrect

Explanation:

Whilst it was generally believed at some point that raising taxes and Government Spending by the same amount would have no effect, research has disproven this thought.

This is because it was shown that an increase in Government Spending leads to a larger increase in GDP than an increase in taxes reduces it.

This is because when the Government spends money, the Multiplier effect of Government Spending is always 1 more than that of the Taxes therefore raising taxes and spending by the same amounts still increases the Real GDP because Government Spending will create more income than taxes will take.

Necco is right, Packard is wrong.

8 0
3 years ago
How we can improve saving culture​
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Answer:

answer

<h2><em><u>Here are six ways you can cultivate a savings culture:</u></em></h2>
  • <em><u>Here are six ways you can cultivate a savings culture:HAVE A BUDGET.</u></em>
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8 0
2 years ago
Which of these factors would strengthen demand for a nation’s currency on the international market? Select all that apply.
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Answer:

B C D F

Explanation:

3 0
3 years ago
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Les just bought a megaphone of root beer. As he drinks from the giant cup, he eventually becomes full. One of his friend's comme
MrMuchimi

Answer:

Sink-Cost Fallacy

Explanation:

According to my research on studies conducted by various behaviorists, I can say that based on the information provided within the question the mental bias that describes Les's behavior is called the Sink-Cost Fallacy. This fallacy/bias refers to when an individual relentlessly continues's a behavior solely because of the resources that they have invested, either being time, money, or effort. Which in this case since, Les invested money into the drink so he does not want to waste it even though it might make him sick.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

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