GDP per capita measures the average GDP per person in the economy. GDP or Gross Domestic Product measures the total output / income and expenditure of an economy. 1. Liechtenstein $118,000 2. Qatar $111,000 3. Luxemburg $83,000 4. Bermuda $69,000 5. Norway $59,000 6. Kuwait $57,000 7. Jersey $57,000 8. Singapore $51,000 9. Brunei $51,000 …
Readers Question: Would a devaluation help Greece? If you look at the Greek economy, their exchange rate has been effectively overvalued for several years. This overvalued exchange rate has caused Greek exports to be relatively uncompetitive and has caused various economics problems. Combined with efforts to tackle an unsustainable debt level, the over-valuation has contributed …
In this post, I looked at the long-term effects of a recession. It examined the various short-term and long-term costs of recession (fall in output) The impacts of a recession can vary depending on the type of recession and also the extent of the existing welfare state. Extent of Welfare state. The impact of a …