Name : Andyni Jasmine Cantika Dewi Student ID : 2001026125 Faculty : Economy and Business Department : Management Class : KBI ECONOMIC FINAL EXAM 1. a.) A country can be said to be more prosperous than other country when they have a great productivity and economic growth, then how does it affect a country to be ‘better' than the other ones? It’s a necessary need for a country to massively grow both in productivity and economics since these two are connected and built to create a prosperous environment. In this case, the ability to produce great goods and services is so much depended on how a country controls its standard of living which makes the society to live more efficiently and prosperously than others', the productivity being said is also the productivity that sways GDP to be larger as the nation's workers being productive at their jobs nor doings therefore the living standards will happen to grow rapidly. When a country has a lot of opened jobs this also is the chance to increase physical country that directly affects the economic growth so when there are job available for everyone, the higher chance a country can get to reach the title prosperous, plus if this country has a great awareness in technologies and how to maximize its using for example on jobs purposes, there's no way for them to not create more futuristic and modish goods or even services to be implemented in. b.) As the answer i have stated in the preview question, to have a title prosperous for a country it means they must have great standards of living, which when a country finally exceeds the other country to be free from poverty, they must have been organizing and finding out the best way to achieve most of rules needed to be prosperous, which among others are rapidly growing economic growth and productivity. c.) The policies a government could execute to raise their country's standards of living is of course by increasing the microeconomics sectors such as regional handcrafts and textiles, other than that sustaining prices of the first commodity like food also can be used for the development of educational, public housing and food sectors. 2. a.) Nominal GDP for each year are: 2014: $10 x 400 + $2 x 1000 = $6,000. 2015: $11 x 500 + $2.5 x 1100 = $8,250 2016: $12 x 600 + $3 x 1200 = $10,800 b.) Real GDP for each year - 2014: $10 x 400 + $2 x 1000 = $6,000 - 2015: $10 x 500 + $2 x 1100 = $7,200 - 2016: $10 x 600 + $2 x 1200 = $8,400 c.) Year 2014 2015 2016 Nominal GDP $6,000. $8,250 $10,800 Real GDP $6,000 $7,200 $8,400 3. Sure it can, it’s proved since there are more than a hundred countries whi already apply this index to scale Purchasing Power Parity (PPP), which both Indonesia and Swiss are also included in it. In order to get the maximum economic transactions benefits, it’s really necessary to taking role of the exchange rate system with the foreign ones, considering that foreign exchange rates would massively influence the costs and benefits in international rate for a special example of Swiss and Indonesia.
