Question
Analyze GDP and standard of living for cameroon using the following points Compare and contrast the GDP composition percentages of cameroon to the averages of
Analyze GDP and standard of living for cameroon using the following points Compare and contrast the GDP composition percentages of cameroon to the averages of the United States (C=70%, I=15%, G=20%, NX=-5%). Here's the requested economic data for Cameroon for the most recent year available:
| Economic Indicator | Value | Year |
|---|---|---|
| Real GDP growth rate (percentage) | 3.8% | 2022 est. |
| Real GDP per capita (in US dollars) | $2,437 | 2021 est. |
| GDP Composition: | ||
| - Consumption (C) | 66.3% | 2017 est. |
| - Investment (I) | 21.6% | 2017 est. |
| - Government spending (G) | 11.8% | 2017 est. |
| - Net exports (NX) | -20.9% | 2017 est. |
| Population size | 27,480,380 | 2021 est. |
| Median age | 18.7 years | 2021 est. |
| Population in poverty | 37.5% | 2014 est. |
| Size of the labor force | 11.81 million | 2021 est. |
| Unemployment rate | 3.87% | 2021 est. |
| Inflation rate (consumer prices) | 2.27% | 2021 est. |
| Median income (in US dollars) | Not available | |
| Current prices (in US dollars): | ||
| - Gasoline (1 gallon) | $5.92 | 2024 |
| - Milk (1 gallon) | $4.64 | 2024 |
| - Loaf of bread | $1.67 | 2024 |
| - Pair of jeans | $26.13 | 2024 |
| - Average rent for a 1bd apartment | $221.33 | 2024 |
| - Movie ticket | $3.76 | 2024 |
Identify links between GDP and the country's natural and economic resources. Discuss imports, exports, and major economic activities in the context of GDP. Explain the relationship between real GDP per capita and population size. Discuss the role of poverty in economic growth. Compare the pace of economic growth in their country to the investment component of GDP. use information from the following link Cameroon - The World Factbook (cia.gov)
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Principles Of Macroeconomics
Authors: N Gregory Mankiw
7th Edition
1285165918, 9781285165912
