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2 years ago

1.Why is GDP / Capita a more accurate way of determining the well-being of a people?

Business

1 answer:

Vesnalui [34]2 years ago

5 0

Answer:

1. GDP is an indicator of a society's standard of living, but it is only a rough indicator because it does not directly account for leisure, environmental quality, levels of health and education, activities conducted outside the market, changes in inequality of income, increases in variety, increases in technology. 2. Real GDP is accurate to hundreds of dollars; nominal GDP is accurate to thousands of dollars. 3. Nominal GDP is an assessment of economic production in an economy that includes current prices in its calculation. 4. The four stages of the cycle are expansion, peak, contraction, and trough. Factors such as GDP, interest rates, total employment, and consumer spending, can help determine the current stage of the economic cycle. Insight into economic cycles can be very useful for businesses and investors.

Explanation:

I hope this can help :)

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Answer:

Joshua statement is correct.

Explanation:

Marginal cost:

Is the cost of producing a new unit.

Average Cost:

$\frac{Fixed Cost + Variable Cost}{UnitsProduced} = $Average Cost$

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3 years ago

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Answer:

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Answer:

A, an economic Union.

Explanation:

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Also, the agreement means that countries that are a part of the economic union are able to adopt a currency, regulate and harmonize tax rates as well as implement similar policies.

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Cheers.

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3 years ago

Read 2 more answers