Summary
Summary gdp and classical model closed economy questionnaire
- Module
- Macroeconomics
- Institution
- The University Of Manchester (UOM)
questions and answers.Try these out am sure you ll get one question from this.
[Show more]
Content preview
GDP and Classical Model Closed economy1. Is GDP a good measure of economic welfare? List and explain SEVEN important types of
economic activity that it doesn’t include.
2. Consider how each of the following events is likely to affect the real GDP of the country
concerned. Do you think the change in real GDP reflects a similar change in economic well-
being?
(a) A freak hurricane in northern France forces Disneyland Paris to shut down for a
month.
(b) The discovery of a new easy-to-grow strain of wheat increases British farm harvests.
(c) Increased hostility between unions and management sparks a rash of strikes in Italy.
(d) Firms throughout the German economy experience falling demand, causing them to
lay off workers.
(e) The European Parliament passes new environmental laws that prohibit EU firms
from using production methods that emit large quantities of pollution.
(f) More Irish university students drop out of university to take jobs painting houses.
(g) Greek fathers reduce their working weeks in order to spend more time with their
children.
3. In a country the unemployment rate is 6 per cent. If the population is 300 million, the
number unemployed is 6 million and the number employed is 94 million, what is the size of
the workforce?
4.
Category Number of People (millions)
Total population 246
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller abhay. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for £4.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
67474 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy revision notes and other study material for 14 years now