GDP is the total market value of goods and services produced in a country in a...

GDP is the total market value of goods and services produced in a country in a year. Google the GDP's of three countries. Everyone should use different countries. Use one advanced economy, one developing country, and then a country on a different continent than the first two countries you found. What I want to know and you need to share is current (1) total gdp, (2) gdp per capita and (3) gdp growth rate for the last year. Explain what has been happening in the countries you chose. If you have heritage from another country, share the gdp numbers from your country.

Expert Solution

India

Current GDP - $2847.94 billion

GDP growth rate- 7.49%

GDP per capita- $7098.05

India is a developing nation and has total GDP more than that of some of the advanced nations. Even the GDP growth rate is quite promising which could be because of increase in prices as well but the per capita GDP is quite low pointing to inequalities in the nation and a huge population base

United Kingdom

GDP- $2885.48 billion

GDP growth rate- 2.22%

GDP per capita- $43,267.78

United Kingdom is a developed nation and doesn't have a great number for total GDP and has a decent growth in GDP but has a very high GDP per capita pointing to high standards of living

New Zealand

GDP - $178.02 billion

GDP growth rate- 2.45%

GDP per capita- $38,075.26

New Zealand is a small nation with a very low GDP number but the growth rate is comparable to other developed nations. It also has high standards of living as can be seen from the GDP per capita figure

Rahul Sunny answered 2 years ago

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