Midtermreview -...

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HDI : human development Index: best known composite index of social and  economic well-being  A long and health life: Health Measured by life expectancy at birth Knowledge: Education Measured as a combination of adult literacy (mean of years of schooling aged 25  years) and gross enrollment  A decent standard of living: Wealth  Measured by GNI (gross national income) per capita If country invests heavily aboard and is doing good, its GNI is usually larger than  its GDP.  Big mac index: (actual exchange-implied PPP)/actual exchange=undervalue or  over value of currency  Ford operates in china, profits counts towards. CHINA GDP; location, US GNI;  ownership   Temporal comparison  Nominal GDP: measured in current price.  Real GDP: measured in constant price Calculating nominal GDP:  2005: (price of hot dog 2005 * quanity of hot dogs 2005) + (price of hamburger  2005 * quanity of hambugers 2005)  2006: (price of hot dog 2006 * quantity of hot dogs 2006) + (price of hamburgers  2006 * quantity of hamburgers 2006)
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Calculating real GDP (base 2005) 2006: (price of hot dogs 2005 * quantity of hot dogs 2006) + (price of hamburgers  2005 * quantity of hamburgers 2006) 
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Midtermreview -...

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