Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

To the right is a partial table of OECD member countries GDP per Person GNI per person using data from the World Bank, with the

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed
To the right is a partial table of OECD member countries GDP per Person GNI per person using data from the World Bank, with the countries ranked according to their GDP per capita in 2014 (these numbers are Switzerland $85,617 $84.720 reported in current U.S. dollars). Australia $61,980 $64.600 Denmark $60,718 $61.330 United States $54,630 $55.230 Ireland $54,339 $46.520 United Kingdom $46,297 $43.390 Greece $21,673 $22,810 Mexico $10,325 $9,870a. Compute the ratio of GNI to GDP in each case. Round to three decimal places. Switzerland: Australia: Denmark: United States: Ireland: United Kingdom: Greece: Mexico:b. Rank countries by the ratio of GNI to GDP. GNI/GDP per person Answer Bank Denmark Switzerland United Kingdom Australia Greece Mexico Ireland United Statesc. A country with a high GDP ranking but low GNI ranking is likely to have a net factor income, indicating that the country exports factors than they import

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Commerce And Coalitions How Trade Affects Domestic Political Alignments

Authors: Ronald Rogowski

1st Edition

0691219435, 9780691219431

More Books

Students also viewed these Economics questions

Question

Is there anything else you would like us to know about you?

Answered: 1 week ago

Question

1. Too understand personal motivation.

Answered: 1 week ago