Author: Anonymous

The one area that the World Bank does not venture into is the environment. It leaves this to other international organizations. 

This unusual presidential candidate focused on one particular concern that he communicated in his campaign. This was:  

Human resources are best defined as people who are paid as part of the production of a good or service. 

Which of the following clients would be able to give consent for an invasive procedure?

We will get the same GDP measure if we use market exchange rates or if we choose to use the purchasing power parity approach.  

In this example, opportunity cost of RICE will be calculated as RICE gained/ CORN foregone. And, opportunity cost of CORN will be CORN gained/ RICE foregone. 

The following indicate output per day for Thailand and Laos:   corn    rice Laos  28  40 Thailand  16  28   Based on the above, what is Laos’ opportunity cost of corn? 

Hans Rosling shows us that in more modern times, the income distribution has changed to look like:

The following indicate output per day for Thailand and Laos:   corn    rice Laos    28  40 Thailand  16  28   What is Laos’ opportunity cost of rice? 

While it is not a perfect measure, a country’s total GDP is economists’ best tool for measuring the well being of citizens in a country.