1. Describe the main components of measuring GDP based on what is spent? Elaborate.
2. Why may nominal values like nominal GDP be misleading?
3. Discuss at least four reasons why GDP should not be considered an effective measure of the standard of living in a country.
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Based on the information in the chart, which country likely has a greater overall GDP?
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1 point
Captionless Image
Australia
Solomon Islands
Their GDPs are equal
It's impossible to tell
I am sorry, I cannot see the chart you are referring to. Can you please provide more information or attach the chart?
Read the excerpt from an 1893 book describing the settlement of Australia and New Zealand.
“It is not necessary here to follow the complicated history of New Zealand in later years, which unfortunately comprises [includes] several bloody wars with the Maoris. The present prosperous condition of this great colony is well known, but it has not been effected without the rapid diminution [decrease in number] of the natives, who have met with the fate of most aborigines in contact with Europeans, especially when the former were naturally bold and warlike.”
—Notes on Captain Cook’s Journal
Which statement is best supported by the excerpt?
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1 point
The British attempt to wipe out the Maori was successful.
The British had little trouble conquering and colonizing New Zealand.
The Maori population gradually declined after Britain colonized New Zealand.
The Maori suffered a loss of population and decline in power.