Adjusted Gross Income

account for more than two-thirds of Gross Domestic Product (Raquiza, 2013). Thailand currently has a gross domestic product that is worth 8.5 trillion Bart based on the basis of the purchasing power parity (Raquiza, 2013). This has led to its classification as the second largest in Southeast Asia after Indonesia. Despite this ranking, Thailand is still midway in the spread of its wealth since it is classified as the fourth richest nation on the basis of gross domestic product per capita after…

First and foremost, a continuously increasing price level could induce a situation which is the increase in cost of living is greater than the increase in income of workers, and this situation could be found in several industries(HKGov,2017). As a result, those workers`s real income would decrease, and they would make less consumption than before, even they might have to bear heavier financial burden. In other words, their living standard will decrease(Chen.F,2015)…

known as Helsinki is one of the fastest growing economies and one of the richest capitals in Europe. Helsinki being one of the richest city in Europe, contributes one third of Finland’s Gross Domestic Product (GDP). Researches show that Helsinki’s GDP per capita is roughly 1.3 times the national average. Finland’s Gross National Product on the other hand, increased to 46671 EUR Million in the second quarter of 2015 from 46625 EUR Million in the first quarter of 2015. The city of Helsinki has a…

Globalization make economic change from poor to richer. It is show obviously at the end of 20th century that Japanese per capita incomes are about as high as Western incomes and seven times as high as Chinese incomes. What make Japan growth so fast ? Revolution of Japan’s is faster than China which government still rule by impartial and the China revolution still slow. Japan revolution in human and social capital while china still struggle with the both issue. In addition, nationalism of Japan…

With the rapid economic development, the total number of vehicles and hand phone users can be described as climbing steadily. According to the international telecommunication union (ITU: International Telecommunication Union) statistics at the end of 2008, the number of china’s hand phone users has exceeded 600 million, which was about 90% of population aged 18 years or above. The total number of hand phone users of China was ranked as the first in the world. The human brain does not have the…

Gross National Product (GNP) and Gross Domestic Product (GDP) are the indicator that studied the strength and weakness of an economy. There is many differences between them. The principle distinction in the middle of GDP and GNP is that GDP refers to the business sector estimation of merchandise or administrations delivered in a nation barring remote generation in a given period of time, typically a year. GDP: Gross domestic product or just GDP implies the business sector estimation of the…

current national focus and priority of the country is on economic stabilization policies even though Brazil is the seventh-largest economy in the world. This may be due to the fact that Brazil has extreme inequalities in respect to income distribution. The per capita income places it between the richest and poorest countries in the world, concealing…

Gross domestic product computes all final, domestic production for which there is a business exchange in that year. Utilized and moderate merchandise are not numbered to stay away from twofold including. Non-market production is not tallied. Underground…

improving the quality of human resources. Along these lines education helps improve productivity and the ability to earn higher wages. By doing so education helps improve income in society and overall makes society better off. There is numerous literature that supports the theory that increases in national income and per capita income is a function of education and is one of the primary difference better between countries rather than physical capital. Nigeria has invested in education…

Problem Questions Problem 1. The Bureau of Labor Statistics collects input and output data from various countries for comparison purposes. Labor hours are the standard measure of input. Calculate the output per hour from the following data. Which country is most productive? Labor Hours Units of Output United States 89.5 136 Germany 83.6 100 Japan 72.7 102 Answer: Output per hour = Units of output/labor hours Labor Hours Units of Output Output per hour United States 89.5 136 136/89.5=…