Understanding Global Economics: GDP and Productivity

Front

What does GDP stand for?

Back

Gross Domestic Product

Front

What does GDP per capita represent?

Back

GDP divided by its population

Front

What does increasing GDP per capita over time indicate?

Back

Increasing national wealth

Front

What does the GDP per capita measure?

Back

Output per person

Front

Which index is used by the United Nations to measure quality of life?

Back

Human Development Index

Front

Which country has high GDP per capita but limited natural resources? Options: USA, Zimbabwe, India, Singapore

Back

Singapore

Front

Why is Switzerland considered rich despite limited natural resources?

Back

High productivity

Front

What is the main reason some countries are rich according to economists? Options: Natural resources, Government policies, Productivity, Population size

Back

Productivity

Front

How does productivity affect workers' wages according to the bakery example?

Back

Higher productivity allows higher wages

Front

What is a fundamental reason for some countries being poor?

Back

Low productivity