What conclusion can someone draw from the map? States with the highest per capita GDP tend to be in the South . Alaska has the lowest per capita GDP of any state. States with the lowest per capita GDP tend to be in the South.
What conclusion can someone draw from the map quizlet?
What conclusion can someone draw from the map? States with the lowest per capita GDP tend to be in the South.
How did the contribution of the goods producing sector to GDP growth change between 2010 and 2011 quizlet?
According to the website, Bolivia is one of the ___________ nations in Latin America. Bolivia's GDP per capita in 2012 was __________ . What do the graphs tell you about Bolivia's labor force? Use the graphs to answer the question.
Which unemployment rate do most economists consider to be acceptable in the United States?
Many consider a 4% to 5% unemployment rate to be full employment and not particularly concerning. The natural rate of unemployment represents the lowest unemployment rate whereby inflation is stable or the unemployment rate that exists with non-accelerating inflation.
Which describes a factor that limits?
A limiting factor is anything that constrains a population's size and slows or stops it from growing . Some examples of limiting factors are biotic, like food, mates, and competition with other organisms for resources.
What conclusion can someone draw from the map states with the highest per capita GDP tend to be in the south?
What conclusion can someone draw from the map? States with the highest per capita GDP tend to be in the South. Alaska has the lowest per capita GDP of any state. States with the lowest per capita GDP tend to be in the South.
What conclusion can be drawn about the US economy as a whole between 2006 and 2009?
What conclusion can be drawn about the US economy as a whole between 2006 and 2009? It remained level.
How did the contribution of the good producing sector to GDP growth change between 2010 and 2011?
How did the contribution of the goods-producing sector to GDP growth change between 2010 and 2011? It fell by 2.3% . You just studied 12 terms!
How did the contribution of the services sector to GDP change?
How did the contribution of the services sector to GDP change between 2009 and 2011? It rose significantly. produces more goods and services . Which unemployment rate do most economists consider to be acceptable in the United States?
How has the contribution of services sector in GDP changed over time?
In 1990-91 contribution of service sector to G.D.P was 42.5 per cent this period share of per cent increasing. 2000-2001 this period also increase the 50.3 per cent. During 2010-11 the share of service sector to G.D.P was 57.6 per cent over a period of time between 1950-2011 the contribution service sector has doubled.
Which best describes the purpose served by economic models within an economic system?
Which best describes the purpose served by economic models within an economic system? Models identify patterns .
What is one way governments try to encourage growth?
The only way in which the government can encourage growth, out of the given options, is to increase unemployment benefits .
Which indicators do economists use to determine the state of the economy?
Gross Domestic Product (GDP) shows the total value of goods and services that the country produces within its boundary and shows the country's economic condition. Thus, economists use prices, agricultural output, employment levels, and GDP to determine the economy`s state.
What conclusion can someone draw from the map the map shows GDP per capita in the United States for a given year?
The map shows GDP per capita in the United States for a given year. What conclusion can someone draw from the map? States with the highest per capita GDP tend to be in the South.
How do limiting factors affect the growth of populations?
Limiting factors include a low food supply and lack of space . Limiting factors can lower birth rates, increase death rates, or lead to emigration. ... Competition for resources like food and space cause the growth rate to stop increasing, so the population levels off.
How do limiting factors affect the carrying capacity of an environment?
Limiting factors determine carrying capacity. The availability of abiotic factors (such as water, oxygen, and space) and biotic factors ( such as food) dictates how many organisms can live in an ecosystem. ... This causes the carrying capacity to decrease. Humans can also alter carrying capacity.
Which is an effect of stagflation quizlet?
What is one consequence of stagflation? The economy drastically slows down as money loses its buying power .
How can the US economy improve?
These include increasing the power of labor unions, decreasing federal spending on defense and the military , strengthening right-to-work laws and passing new trade or tariff laws that would make it more expensive to import goods into the U.S. Also at the bottom of the list are reducing corporate tax rates for ...
Which body or group is most able to use money to influence the?
Government is the most influential body.
How does the business cycle affect consumers?
The business cycle is crucial for businesses of all kinds because it directly affects demand for their products . ... Boom: high levels of consumer spending, business confidence, profits and investment. Prices and costs also tend to rise faster. Unemployment tends to be low as growth in the economy creates new jobs.
How can government and consumer spending affect the economy?
Even a small downturn in consumer spending damages the economy. As it drops off, economic growth slows. Prices drop, creating deflation. If slow consumer spending continues, the economy contracts.
What will the US economy look like in 2024?
BLS projects that, from 2014 to 2024, real GDP growth will be only 2.2 percent . (See table 2.) Per capita real GDP growth will slow to 1.4 percent, which is less than the 2.3-percent growth experienced from 1994 to 2004 and the 1.6-percent prerecession growth seen between 2004 and 2007.
What can you conclude about the economic history of the Philippines?
Since the end of the Second World War, the Philippine economy has had a mixed history of growth and development . Over the years, the Philippines has gone from being one of the richest countries in Asia (following Japan) to being one of the poorest. Growth immediately after the war was rapid, but slowed over time.
How can we increase economic growth?
- Lower interest rates – reduce the cost of borrowing and increase consumer spending and investment.
- Increased real wages – if nominal wages grow above inflation then consumers have more disposable to spend.
- Higher global growth – leading to increased export spending.
Why is economic growth is important?
Economic growth increases state capacity and the supply of public goods . ... Growth creates wealth, some of which goes directly into the pockets of employers and workers, improving their wellbeing. As people earn higher incomes and spend more money, this enables people to exit poverty and gain improved living standards.
What is the importance of services to the economy?
The importance of service industries in the economy is that they contribute significantly to the domestic and global economy . Based on various research reports, 70 percent of the GDP in most countries result from service industries.
What are the reasons for the growth of service sector?
- Improved labour productivity. A key factor behind tertiarisation is improved labour productivity. ...
- Globalisation. ...
- Income elasticity of demand. ...
- Rising real incomes/ wages.
- More leisure time.
- Technology.
- Related.
ADVERTISEMENTS: Some of the major reasons for the growth of service economy are as follows: (a) The Lag in Growth in Labour Productivity in Services (b) The Growth in Intermediate Demand from Firms (c) The Growth in Final Demand from Consumers.
Why is it important for the government to assess the performance of the economy?
The reason why it's so important is that it indicates the growth in economic output , whether measured by GDP (gross domestic product), GVA (gross value added), or any other measure. ... Assessing economic output also helps investors understand what drives an economy.
Why is the service sector important to an economy?
As their economies continue to develop, the importance of the service sector continues to grow . ... This job creation is particularly useful as often it provides employment for unskilled workers in the tourism and retail sectors, which benefits the poor and represents an overall net increase in employment.
How important is the service industry in the US economy?
The Tertiary Sector, also known as the Service Sector, has become the number one driving force of the U.S. economy during the last decades . According to recent statistics (2002) it nowadays accounts for 78% of the U.S. non-agricultural employment and 76% of the U.S. private sector Gross Domestic Product (GDP).
How do economists compare the economic performance of different countries?
One way to compare different countries' GDPs is with an exchange rate, the price of one country's currency in terms of another . GDP per capita is GDP divided by population.
What are the key indicators of an economy that is doing well?
Annual GDP figures are often considered the best indicators for the size of the economy. Economists use two different types of GDP when measuring a country's economy. Real GDP is adjusted for inflation, while nominal GDP is not adjusted for inflation. An increase in GDP indicates that businesses are making more money.
Which best describes the purpose served by economic models within an economic system Brainly?
Economic models are used to explain economic issues . A visual representation of consumers, businesses, or other economic factors.
What is one of two purposes that graphs serve in economics?
Economists use graphs not only as a compact and readable presentation of data, but also for visually representing relationships and connections —in other words, they function as models. As such, they can be used to answer questions.
How did the contribution of the goods producing sector to GDP growth change between 2010 and 2011?
How did the contribution of the goods-producing sector to GDP growth change between 2010 and 2011? It fell by 2.3% . You just studied 12 terms!
When government intervention makes currency worthless This condition is called?
a gradual expansion in the price of goods and services. When government intervention makes currency worthless, this condition is called. hyperinflation .
What would happen if currency in all countries had fewer denominations?
What would happen if currency in all countries had fewer denominations? People could not charge as many different prices for goods .
Which event most likely explains renewed?
Which event most likely explains renewed demand in a recovery period? Economic policy renews consumer confidence and demand .
What conclusion can someone draw from the map States with the?
What conclusion can someone draw from the map? States with the highest per capita GDP tend to be in the South .
What conclusion can someone draw from the map quizlet?
What conclusion can someone draw from the map? States with the lowest per capita GDP tend to be in the South.
