geovisua
... metro areas as economic powerhouses But not dynamic What does it mean for U.S. economic activities to be concentrated in just a handful of metros? ...
... metro areas as economic powerhouses But not dynamic What does it mean for U.S. economic activities to be concentrated in just a handful of metros? ...
Economic Indicators
... Economic Indicators Gross Domestic Product (GDP) In the 1990’s, most government accounting switched to GDP, which is the measurement of the value of all goods and services produced in the country. GDP per capita This is a measure of the average income per person in a country. This is found by dividi ...
... Economic Indicators Gross Domestic Product (GDP) In the 1990’s, most government accounting switched to GDP, which is the measurement of the value of all goods and services produced in the country. GDP per capita This is a measure of the average income per person in a country. This is found by dividi ...
limitations of gdp
... Inflation changes the value of the U.S. dollar which unaccounted for will throw off assumptions of previous years’ GDP values. This is fixed by finding real values as opposed to nominal ones. ...
... Inflation changes the value of the U.S. dollar which unaccounted for will throw off assumptions of previous years’ GDP values. This is fixed by finding real values as opposed to nominal ones. ...
How can we measure living standards?
... Educational attainment is referred to as the highest level and degree of education an individual has completed A country uses this statics to work out the % population who has, for e.g., completed primary education From the last e.g. The Government can use this data to set up government schools whic ...
... Educational attainment is referred to as the highest level and degree of education an individual has completed A country uses this statics to work out the % population who has, for e.g., completed primary education From the last e.g. The Government can use this data to set up government schools whic ...
development
... An indicator/index is a product of the person(s) who created it. This is obvious when stated but the ramification is that there is potential for human bias. ...
... An indicator/index is a product of the person(s) who created it. This is obvious when stated but the ramification is that there is potential for human bias. ...
GEOG 352 – Day 14
... It takes into account the long-term benefits of spending on health and education. It tries to take into account key indicators of social capital and health, such as volunteer rates, voter participation rates, etc., as well as the negative impacts of unemployment and underemployment. It also adjusts ...
... It takes into account the long-term benefits of spending on health and education. It tries to take into account key indicators of social capital and health, such as volunteer rates, voter participation rates, etc., as well as the negative impacts of unemployment and underemployment. It also adjusts ...
Genuine progress indicator
Genuine progress indicator, or GPI, is a metric that has been suggested to replace, or supplement, gross domestic product (GDP) as a measure of economic growth. GPI is designed to take fuller account of the health of a nation's economy by incorporating environmental and social factors which are not measured by GDP. For instance, some models of GPI decrease in value when the poverty rate increases. The GPI is used in green economics, sustainability and more inclusive types of economics by factoring in environmental and carbon footprints that businesses produce or eliminate. ""Among the indicators factored into GPI are resource depletion, pollution, and long-term environmental damage."" GDP gains double the amount when pollution is created, since it increases once upon creation (as a side-effect of some valuable process) and again when the pollution is cleaned up, whereas GPI counts the initial pollution as a loss rather than a gain, generally equal to the amount it will cost to clean up later plus the cost of any negative impact the pollution will have in the mean time. While quantifying costs and benefits of these environmental and social externalities is a difficult task, ""Earthster-type databases could bring more precision and currency to GPI's metrics."" ""Another movement in economics that might embrace such data is the attempt to 'internalize externalities' - that is, to make companies bear the costs"" of the pollution they create (rather than having the government bear that cost) ""by taxing their goods proportionally to their negative eco-impacts.""GPI is an attempt to measure whether the environmental impact and social costs of economic production and consumption in a country is a negative or positive factor in overall health and well-being. By accounting for the costs borne by the society as a whole to repair or control pollution, poverty and prosperity GPI balances GDP spending against external costs. GPI advocates claim that it can more reliably measure economic progress, as it distinguishes between the overall ""shift in the 'value basis' of a product, adding its ecological impacts into the equation.""(Ch. 10.3)Comparatively speaking, the relationship between GDP and GPI is analogous to the relationship between the gross profit of a company and the net profit; the Net Profit is the Gross Profit minus the costs incurred; the GPI is the GDP (value of all goods and services produced) minus the environmental and social costs. Accordingly, the GPI will be zero if the financial costs of poverty and pollution equal the financial gains in production of goods and services, all other factors being constant.