We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Nobody downloaded yet

Economic growth is one of the macroeconomic objectives of the Australian government . Outline the problems that arise in measuring economic growth - Essay Example

Comments (0)
Summary
The GDP growth rate in 2011’s second quarter was 1.2%. in history, from 1959 to 2011, the average GDP of this nation was about 0.89% and it reached its maximum at 4.6% in year…
Download full paper
GRAB THE BEST PAPER
Economic growth is one of the macroeconomic objectives of the Australian government . Outline the problems that arise in measuring economic growth
Read TextPreview

Extract of sample
Economic growth is one of the macroeconomic objectives of the Australian government . Outline the problems that arise in measuring economic growth

Download file to see previous pages... It also fails to consider the externalities that may be negative like those caused by pollution as well as depletion of resources. (tradingeconomics.com, 2011)
Globally, the process by which the wealth of a nation is determined or poverty is a complex task since there lies a predicament while trying to obtain compatible type of data. Different nations may be having different data types and thus, comparison in performance fails to be objective at the end.
GDP as mentioned earlier is the method that is mostly used in the world to measure a country’s growth and Australia has followed this method as utilized by United Nations. This GDP method does not consider the incomes that come from corporations and individuals. This is especially if these incomes come from foreign sources and this approach further shows the weakness of measuring the growth of a nation.
The alternative method, (just to mention), that was usually used to measure an economy’s growth and that was applied universally in the world was GNI. The difference arises where GNI considers income from outside the country while GDP does not. (Kendall, 2010 ...Download file to see next pagesRead More
Comments (0)
Click to create a comment or rate a document
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC
Economic Growth
Economic growth is one of the major macroeconomic objectives. Economic growth is regarded as a necessary and desirable feature of modern economies . Economic growth is widely defined as ‘the sustained increase in real per capita incomes’ .
4 Pages(1000 words)Essay
Economic Growth and Economic Fluctuations
These theories include the exogenous growth model as well as endogenous growth model. This paper will represent an examination of the viability of several governmental initiatives aimed determining the if certain policies will facilitate economic growth whereby a developing nation is able to catch up with already developed nations and to maintain a steady-state after catch up.
12 Pages(3000 words)Essay
Importance of economic growth
Although it is true that economic growth alone can not bring sufficient changes in the average level living standard of people living in a particular country, it is an important component for obtaining higher quality of life. So, one of the major aims of any country across the world is to attain higher level of economic growth.
14 Pages(3500 words)Essay
Economic Growth
However, the real GDP per person in the country more than doubled between 1963 and 2003 (Parkin 425). In the rest of the world, specifically Asia, the growth in real GDP was even greater. Specifically, a look at the world's seven biggest economies (United States, Japan, Canada, France, Germany, Italy and United Kingdom) shows that real GDP per person has grown steadily from 1963 to 2003.
11 Pages(2750 words)Essay
Economic growth and the role of government
Since economics is thought of being the bridge between scarce resources and unlimited human wants, a holistic definition of economic growth would be to increase the efficiency of an economy. This happens as a corollary of growth where an economy will grow over time to the next higher level in terms of production of goods and services, employment, foreign trade and other macroeconomic factors.
4 Pages(1000 words)Essay
Economic Growth
Percentages encompassed in 1980 sum to less than 100 owing to the explanation that contributors depicted meager values. For instance, population in 1980 encompassed undersized statistics. This expounds
3 Pages(750 words)Essay
Analyse the difference between Economic Growth & Economic Development. What are the problems concerning measuring economic development Illustrate your answer using case studies
The term economic development is broader and more inclusive of the economic factors than economic growth. When a region experiences economic development, it implies that there is an improvement in the aspects that affect human welfare. Economic development is
4 Pages(1000 words)Essay
Economic growth
The modern methods uses construction of an aggregate index that combines different attributes such as HDI index used by UNDP. HDI combines health, income and education to make a weighted average index. The index is used to
4 Pages(1000 words)Essay
Economic Growth
In addition to that, a sustainable economic growth does not solely focus in ensuring that people live a good life it also focuses on
8 Pages(2000 words)Essay
Economic Growth
Negative growth is when the economy is in recession and depression and vice versa and that is, the reason and features the article covers effectively. I suggest that an increase in economic growth is associated with improvement in the living standards of people.
2 Pages(500 words)Essay
Let us find you another Essay on topic Economic growth is one of the macroeconomic objectives of the Australian government . Outline the problems that arise in measuring economic growth for FREE!
Contact us:
+16312120006
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us