BBM202: Though most countries in the world use the Gross Domestic Product (GDP) as an indicator of the well-being of the nation: Macroeconomics Assignment, WOU, Malaysia
University | Wawasan Open University (WOU) |
Subject | BBM202: Macroeconomics |
Question 1
Though most countries in the world use the Gross Domestic Product (GDP) as an indicator of the well-being of the nation, the indicator has its own set of issues. Explain why GDP is often not considered the best indicator to measure well-being.
Question 2
Using appropriate examples, explain two main types of unemployment that usually occurs in Malaysia.
Question 3
Using the AD-AS diagram, explain the effect of the following on price and real
income.
- Prediction of World War 3 next year
- Consumers are optimistic about the economy
- The government has increased sales and service tax
- The minimum age for working has been reduced
Question 4
There are three main types of foreign exchange rate systems used globally. Explain all three of them and also indicate which countries use them.
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