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Can GDP be zero and if so what does that mean for the country with a zero GDP?
Wiki User
∙ 9y ago
The GDP of a country - or even a large community - cannot be zero. Zero GDP implies that there is no output (goods or services), nobody spends anything (on things from inventories or imports), nobody earns anything.
Wiki User
∙ 9y ago
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How can GDP be bigger or smaller than gnp?
The most appropriate measure to use to illustrate the difference is the output measure of GDP/GNP. Roughly speaking the GDP of a country is the total value of all goods and services that are produced in the country - by any company located in the country irrespective of the nationality of the company. By contrast, GNP is a measure of all goods and services produced by companies that are owned by the country (or its nationals), wherever that company operates. So, if foreign owned companies in a country produce more than the country's foreign holdings do wherever they are located, then GDP will exceed GNP. And conversely.
What is absolute mean deviation of first 50 digits of pi?
The mean deviation of any set of numbers is always zero and so the absolute mean deviation is also always zero.
What does mean zero error reading of vernier calipers?
The scale doesn't start at zero, so you need to compromise or you get a systematic error.
What disadvantage are there of the mean deviations?
The mean deviation of a set of observations is always zero and so conveys no information whatsoever!
Why is important the zero?
do you mean why is zero so important well this is why. zero is betwin one so the zero gets started with because its zero one two three. and it can also make lower numbers. zero is the king of the small numbers the small numbers are -one -two -three. and it makes the big ones. zero one two three. its very easy to know why its an important number.
How does increasing the GDP help a country?
It helps as it stops our country from being in debt so the higher the Gross Domestic Product (GDP) the lower chance of this country being in debt :)
Why is Britain a Most Economically Developed Country?
because the GDP for the country is high, the GDP stands for Gross Domestic Product, this is just a fancy way of saying how much money the country produces. GDP percapita is another way of saying the GDP but for one person. The higher the GDP the wealthier the country so England obviously has a high GDP. But don't be fooled knowing the GDP does not tell you how developed the country is England is a developed country because of things like adult literacy, life expantacy at birth, the amount of people working etc. Hope it helped
Why if India is a top industrial country is its GDP so low?
This is because India is still a developing country.
What is is the worlds richest country?
Here is a list of the richest countries Luxembourg (GDP per capita: $119,719) Norway (GDP per capita: $86,362) Switzerland (GDP per capita: $83,832) Ireland (GDP per capita: $81,477) Iceland (GDP per capita: $78,181) Qatar (GDP per capita: $65,062) The United States of America (GDP per capita: $64,906) Denmark (GDP per capita: $63,434) Singapore (GDP per capita: $62,690) Australia (GDP per capita: $58,824) so I know the USA is the richest country but this is the richest countries by GDP.
Why is Romania a developping country?
Because the the GDP is very modest.Because the GDP per capita is very low and the economy was destroyed after 1990 by the so called "democrats".
Is 85 billion good for a GDP?
Matters how big the country is, but the US GDP is about 15 trillion, so 85 billion is much, much smaller, Bill Gates at one point was worth 50 billion, so it is a relatively low number for GDP.
How does the literacy rate affect the GDP per capita in each country?
Italy has a high literacy rate and the location is great so the GDP is high
When there is no gold what does the government back its currency with?
Promises and happy thoughts. The value is pegged to the GDP of the country that makes the promise of value so when that country's GDP goes down and its gov't prints more money, the existing value drops.
Is South Africa ritch?
It is the 28th country by GDP, so it is rich but not as rich as others, but it is the richest African nation.
How can nominal GDP increase even though real GDP falls?
Primarily this happens because of increase in prices. Nominal GDP= GDP using current prices. Real GDP= GDP that takes prices changes into account. Let me give a very simple example, let's say: In year 1, the country produced 10 computers for 10 dollars each. So GDP for year 1= $100 In year 2, the country only produced 9 computers for 15 dollars each. So GDP for year 2 = $135 (9x15) In year 2,the nominal GDP has increased from $100 to $135. However, we measure real GDP using a base year, in this case year 1, so we use the price of year 1 to find the real GDP for year 2. Using prices of year 1 we have: 9 computers x $10 each = $90 of real GDP. Finally, you see that even nominal GDP for year 2 was $135, the real GDP was $90.
GDP only measure current production according to my lecture notes What is the definition of production. Goods PRODUCED?
GDP per capita reflects the income of individuals, and can be used to compare countries whereas GDP reflects the total income in the economy and can't be used to compare economies with different populations. For example: If the GDP of country A is 100 and country B is 200, it appears that country B is better off. But if country A has a population of 50 and country B has a popultion of 200, then each citizen in country A has an income of 2 and each citizen of country B has an income of 1, so country A is actually better off.
How can GDP be bigger or smaller than gnp?
The most appropriate measure to use to illustrate the difference is the output measure of GDP/GNP. Roughly speaking the GDP of a country is the total value of all goods and services that are produced in the country - by any company located in the country irrespective of the nationality of the company. By contrast, GNP is a measure of all goods and services produced by companies that are owned by the country (or its nationals), wherever that company operates. So, if foreign owned companies in a country produce more than the country's foreign holdings do wherever they are located, then GDP will exceed GNP. And conversely.
