External debt is the total public (government) and private debt owed to non-residents repayable in internationally accepted currencies, goods, or services. This is gross (total) external debt. It does not measure net debt. External debt is different to measures of public (government) debt. See: List of national debt by country. Some countries with very high …
Measuring economic welfare is not an exact science. Often in economics, we focus on GDP statistics (measuring national output). However, quality of life depends on many other factors apart from just GDP. Quality of Life Indicators GDP – the total output of an economy. This is a guide to national output and influences the level of …
This is a list of the gross national debt of 178 countries, showing the variation in debt levels from Venezuela at 304% of GDP to Macau at 0% of GDP. National debt refers to the amount of total government debt a country has. This is also referred to as ‘public sector debt’. It is compiled …
The highest rates of obesity in the world are found in the small pacific islands, Nauru, Cook Islands with close to 60% of the adult population meeting definition of obesity as measured by the BMI (body mass index) Excluding these small pacific islands (with very small population) the greatest levels of obesity are found in …
In recent years, many advanced (high-income) economies have seen a marked fall in unemployment but only very slow or even negative real wage growth. This phenomenon of slow wage growth, despite falling unemployment, is marked in countries such as the UK, Japan and the US. Reasons to explain this slow growth of wages include Low …
Readers Question: Discuss the impact of a decrease in government spending? If the UK government cut government spending, it would have a significant impact on both aggregate demand (AD) and the supply side of the economy – depending on which areas of public spending were cut. Firstly, government spending (G) is a component of Aggregate …
The Human Development Index (HDI) is a measure of economic development and economic welfare. The Human Development Index examines three important criteria of economic development (life expectancy, education and income levels) and uses this to create an overall score between 0 and 1. 1 indicates a high level of economic development, 0 a very low …
Population density is the average number of people living per square mile/km. A high population density implies that the population is high relative to the size of the country. Countries, such as Belgium and the Netherlands have a high population density. Large countries, such as Australia and Canada have very low densities. Though this low …