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ACED 1100 CH 2 – GROSS DOMESTIC PRODUCT

Name:___________________________

Complete an Internet search to answer questions 1. Use reliable sources.

1. Define Gross Domestic Product (GDP)

Follow the link http://data.worldbank.org/data-catalog/GDP-ranking-table, click on Data & Resources, right-click on the Excel table, open table in new tab, and answer the questions below for 2019. Please note: Amounts in the list at the linked page are in millions of dollars – add six zeroes to the answers.

2. What was the World’s GDP in 2020? ((Hint: Scroll way down. And remember, add six zeroes`.)

3. Which country had the highest GDP? What was the amount of this country’s GDP?

4. Which country had the second largest GDP? What was the amount of this country‘s GDP?

5. The third largest? Amount?

6. What is the GDP of the Bahamas (hint - < $13,000 million)? its ranking?

7. How many countries had a GDP of less than $10,000 million (only count those showing a GDP?

8. Does this automatically mean these countries had a low standard of living as well? Why or why not?

9. Using the Internet, find the definition for Human Development Index (HDI). What does it measure? (Note: This index is the closest index to measuring the standard of living, although it measures items in addition to the standard of living as well.)

10. Follow the link http://hdr.undp.org/en/content/human-development-index-hdi. • Under Data Center at the left, click on Download data. • Download the Table 1: Human Development Index and its components. The data is for

2020. • Where does the Bahamas rank on the HDI? Where did it rank on GP? • Where does the U.S. rank on the HDI scale? Where did it rank on GDP? • China on HDI (not Hong Kong)? Where did China rank on GDP?