Question

In: Economics

Explain why we argue that GDP per capita for Ireland would not be expected to equal...

Explain why we argue that GDP per capita for Ireland would not be expected to equal it's GNI per capita. please indicate which measure is larger / smaller, and why.

Solutions

Expert Solution

GNI OR GDP per capita is very important indicator of an economy.although GDP per capita does

not includes all the aspect of an economy but it covers most GDP per capita for Ireland would be expected alternative development measures. GDP per capita is closely correlated with non monetary measures of an economy a non monetary measure includes quality of life life expetancy at birth enrollment ratio in schools mortality rate of children. Alternative measure of economic development as captured Gain in productivity through technologies innovation in Research and development will shift per capita output and thus per capita output will be higher

capital deeping means using more capital per worker in other words indicate which measure is larger and smaller and GDP and GNI in economic development as captured by human development index Ireland are perfectly correlated with GNI or GDP per capita


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