scroll to top
Stuck on your essay?
Get ideas from this essay and see how your work stacks up
Word Count: 426
In 1992 the GDP per head of Malaysia was 2200 and that of Taiwan was 6600 Discuss the basis and confidence with which an economist might conclude that living standards in Taiwan were three times those in Malaysia -Different subsidy levels -Exchange rate differences -Subsistence economies -Non-monetary transactions -Poor bureaucracy An economist could not confidently conclude that living standards in Taiwan were three times those in Malaysia for a number of reasons Different subsidy levels in the different economies can affect the GDP If the governing body in Malaysia felt the need to subsidise what it thought of as necessities ie accommodation energy and the governing body of Taiwan decided that it was best to leave their provision to market forces then the cost of the commodities would be counted towards the GDP of Taiwan but not that of Malaysia Even though Taiwan did not provide greater quantities of the good it would be counted towards its GDP as a monetary transaction has been made although living standards have not been affected The bureaucratic administrative system in Malaysia may not be as reliable as that of Taiwan This may lead to some figures being dubious and some calculations being misleading The data collection procedure in Malaysia may not be as exact as Taiwans which could lead to GDP misinterpretation Exchange rates can distort figures leaving poor reflections of the actual value of the GDP figures It may be better to use Purchasing Power Parity to give a more accurate direct comparison between the domestic value of the GDP data Malaysia may be largely a subsistence economy If its production of rice the chief staple is met by private landowners providing for their families then these figures could not be included in the GDP calculations although there may be more than enough food available If to meet domestic demand Taiwan had to import large amounts of rice then these
@Kibin is a lifesaver for my essay right now!!
- Sandra Slivka, student @ UC Berkeley
Wow, this is the best essay help I've ever received!
- Camvu Pham, student @ U of M
If I'd known about @Kibin in college, I would have gotten much more sleep
- Jen Soust, alumni @ UCLA