Principles of Economics- Mankiw (5th) 491

Principles of Economics- Mankiw (5th) 491 - CHAPTER 22 M E...

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CHAPTER 22 MEASURING A NATION’S INCOME 507 Table 22-3 GDP, L IFE E XPECTANCY , AND L ITERACY . The table shows GDP per person and two measures of the quality of life for 12 major countries. R EAL GDP PER L IFE A DULT C OUNTRY P ERSON , 1997 E XPECTANCY L ITERACY United States $29,010 77 years 99% Japan 24,070 80 99 Germany 21,260 77 99 Mexico 8,370 72 90 Brazil 6,480 67 84 Russia 4,370 67 99 Indonesia 3,490 65 85 China 3,130 70 83 India 1,670 63 53 Pakistan 1,560 64 41 Bangladesh 1,050 58 39 Nigeria 920 50 59 Source: Human Development Report 1999, United Nations. Measuring a nation’s gross domestic product is never easy, but it becomes especially difficult when people have every incentive to hide their economic activities from the eyes of government. The Russian Economy: Notes from Underground B Y M ICHAEL R. G ORDON If you want to know what is happening in the Russian economy, it helps to think about bread. Government statistics show that people are eating more bread and
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This note was uploaded on 07/30/2010 for the course ECON 120 taught by Professor Abijian during the Spring '10 term at Mesa CC.

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