Principles of Economics- Mankiw (5th) 492

Principles of Economics- Mankiw (5th) 492 - 508 PA R T E I...

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508 PART EIGHT THE DATA OF MACROECONOMICS maternal mortality, higher rates of child malnutrition, and less common access to safe drinking water. In countries with low GDP per person, fewer school-age children are actually in school, and those who are in school must learn with fewer teachers per student. These countries also tend to have fewer televisions, fewer telephones, fewer paved roads, and fewer households with electricity. International data leave no doubt that a nation’s GDP is closely associated with its citizens’ standard of living. QUICK QUIZ: Why should policymakers care about GDP? CONCLUSION This chapter has discussed how economists measure the total income of a nation. Measurement is, of course, only a starting point. Much of macroeconomics is aimed at revealing the long-run and short-run determinants of a nation’s gross domestic product. Why, for example, is GDP higher in the United States and Japan than in India and Nigeria? What can the governments of the poorest countries do
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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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