Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. this has been recently reported that china has sur

This has been recently reported that China has surpassed Japan, France, and Germany to become...

90.2K

Verified Solution

Question

Accounting

This has been recently reported that China has surpassed Japan, France, and Germany to become the worlds second largest economy and could very soon overtake the USA as the world first economy. The goal of this section is to go behind headlines by comparing GDPs across these countries.

  1. [5 points] Graph the GDPs of the USA, China, Japan, France and Germany (note: use GDP (constant 2010 US$)). Comment.

  1. [5 points] Now, graph the GDPs of the USA and China ONLY (both on the same graph). (note: use GDP (constant 2010 US$)). Comment.

  1. [5 points] GDP, especially in developing countries can be underestimated because the market value of goods and services is generally less as compare their market value in developed economies. To correct for this, purchasing power parity (PPP) prices are used instead.

  • Graph the GDPs of the USA and China (note: use GDP, PPP (constant 2017 international $)). Comment and compare with b.)

  1. [5 points] Is China catching up with the US? How large is the USA economy relative to the Chinese economy? (Hint: use GDP (constant 2010 US$) and graph the ratios of the US GDP relative the China GPD across the years.). Be specific in your comments!

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Accounting
1.2K views

Frank is a consultant who earns $72,000 annually. His spouse, Julie is a homemaker, and they...

Mechanical Engineering
1.2K views

List the four common parameters that affect the optimisation of a pumping system. PLEASE PRINT THE...

Basic Math
1.2K views

Match the following statistical tests with the level of measurement or other requirement required for each...

Accounting
1.2K views

Provide the closing entry for the following trial balance at year end: DR.                   CR. Cash                             $5,275 A/R                               $1,850 Equipment                   $56,480 A/P                                                       $12,350 Owners Capital                                     $70,405 Owners Withdrawals    $6,000 Revenue                                              $85,000 Cost of Goods...

Biology
1.2K views

What is the purpose of engineering disulfide bonds What is the concern about extra disulfide...

Physics
1.2K views

When a heater heated with the current of 5A with a resistance 6ohm and 10L...

Basic Math
1.2K views

assign Problem 20 1 point Find a vector that is perpendicular to the plane through...

Calculus
1.2K views

Find the relative maximum and minimum values.f(x,y)= e^(6x +6y +9)Select the correct choice below and,...

Accounting
1.2K views

In decentralized companies, performance evaluation systems provide upper management with the feedback it needs to...

Accounting
1.2K views

Phoenix Company is considering investments in projects C1...

Accounting
1.2K views

C4-2 (Algo) From Recording Transactions (Including Adjusting Journal Entries) to Preparing Financial Statements and Closing...

Accounting
1.2K views

Reuben sells football equipment to major colleges and universities. Foster Limited maintains their accounting records...