--%>
Assignment Help - homework help

Gross Domestic Product of Norway

What do you mean by Gross Domestic Product of Norway?

E

Expert

Verified

Norway is one of the world's most developed country and is home to one of the most advanced economies in the world. The country's overall Gross Domestic Product (GDP) is quite large considering the nation's small population. Its Gross Domestic Product (GDP per capita is higher than that of the United States which is ranked second in both nominal and PPP figures.

Its 2005 GDP figures were as follows:

i) Nominal GDP: $296 billion (25th rank)

ii) GDP PPP was $195 billion (42nd rank)

iii) Nominal GDP per capita is: $6- (2nd rank)

iv) GDP PPP per capita: $42,000 (2nd rank)

   Related Questions in Microeconomics

  • Q : Problem regarding to tax wedges in

    In equilibrium, a tax upon a good tends to because of the: (1) supply to exceed the demand. (2) quantity supplied to exceed the quantity demanded. (3) demand prices of consumers to exceed the supply prices of sellers. (4) competitive

    		•
  • Q : Effects of higher real interest rates

    Higher real interest rates give in: (w) greater incentives to save and decreased incentives to invest. (x) increases in the amount of liquidity desired by financial investors. (y) increases in the optimal debt-equity ratio of a corporation. (z) decrea

    		•
  • Q : Market-period supply curve For a purely

    For a purely competitive industry a market-period supply curve would be: (i) curve A. (ii) curve B. (iii) curve C. (iv) curve D. (v) curve E.

    Q : Measure Liquidity An asset’s associate

    An asset’s associate “liquidity” is inversely measured through the: (w) transaction costs in dealing within the asset as a proportion of the market price of the asset. (x) time it takes to convert this to cash. (y) “backing&rdq

    		•
  • Q : Marginal revenue product or MRP curve I

    I have a problem in economics on Marginal revenue product or MRP curve. Please help me in the given question. Demand for the labor through a monopolist in the product market is its: (i) Value of marginal product (or VMP) curve. (ii) Marginal revenue p

    		•
  • Q : Influence of drought in market price

    Severe drought outcomes in a drastic fall in the output of wheat. Examine how will it influence the market price of wheat? Answer: As an outcome of severe drought,

    		•
  • Q : International federal or agreements and

    Consider goods for that various people are willing and capable to pay much more than the costs of production therefore widespread shortages exist. International federal or agreements, state and local laws as well as regulations are probably key factor

    		•
  • Q : Equilibrium Interest Rate in Financial

    Equilibrium interest rates change among various financial instruments due to differences in all of the given EXCEPT: (w) default risk. (x) time to maturity. (y) liquidity. (z) the solvency of the lender. Hey friend

    		•
  • Q : Price inelasticity of supply The price

    The price elasticity of supply is zero therefore supply is perfectly price inelastic within: (w) Panel A. (x) Panel B. (y) Panel C. (z) Panel D.

    Q : Help In the quintile distribution of

    In the quintile distribution of income, the term "quintile" represents

    		•