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Posted: March 3rd, 2022
Macro-Economics essay
2020/2021- Semester 2
[Macro-Economics]
THE COUNCIL OF COMMUNITY COLLEGES OF JAMAICA
COMMON COURSEWORK
SEMESTER II – FEBRUARY 2021
PROGRAMME: BUSINESS ADMINISTRATION
COURSE NAME: MACROECONOMICS
CODE: ECON3701
YEAR GROUP: THREE
UNIT:
DUE DATE: TBD
ASSESSMENT TYPE: COURSEWORK: INDIVIDUAL-20%
INSTRUCTION: Answer ALL questions
“GDP per capital or any National Income statistics cannot be used to measure living standards or
compare different countries, due to the number of deficiencies that it has”.
i. EXPLAIN how national income data is compiled? (8 marks)
ii. What deficiencies is this statement talking about? (6 marks)
iii. Why do Economists still use GDP per capital to compare or rank countries if there are such
deficiencies? (6 marks)
(Total 20 marks)
APA STANDARDS EXPECTED
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