A.

1. GDP thinks the bigger=the better

The bigger is not always better, because expences are not being count and
the country can simply run out of money and resources.

2. GDP measures only cash transactions

GDP counts as a problem only “global” problems like drug addiction, but
not volunteering or household

3. GDP is flummoxed by Internet

It is more “convenient” for GDP if people do not use online shopping,
buying tickets online etc.

B.
Many developing countries, particularly in Africa, parts of Asia, and Latin
America, face economic challenge, because while some countries have achieved
high levels of economic development and prosperity, others continue to face
significant challenges in terms of poverty and underdevelopment.

1. Nominal GDP is a good way of comparing the crude economic size of

various countries, while GDP (PPP) is an attempt to measure the relative
living standards between countries. But this is just an approximation (it
does not measure the distribution of personal income).
2. On the nominal GDP map, the United States remains the world’s largest
economy. But on the PPP-adjusted GDP map, China takes the top
spot(which means they are quite different).
3. California’s economy is bigger than that of all of South America or Africa.
4. Europe is bewilderingly diverse, so it helps to focus on the “Big Five”
economies: Germany, UK, France, Italy, and Spain. They comprise three-
fifths of Europe’s GDP.
5. Cartograms abandon geographic accuracy in order to represent the values
of another dataset, in this case GDP means the bigger a region or country is
shown relative to its actual size, the greater its GDP, and vice versa.

C.

1. Developing countries, while having much smaller economies, have one

thing that the richest countries don’t have - immense room for economic
growth. Also, most of the poorest countries are agriculture, mining,
manufacturing. Otherwise, Africa really has potential. Overall, while
today the poorest countries still have extremely low standards of living,
the economic potential is there for future growth
2. The most high-income countries went through a similar linear journey.
Beginning with agriculture-based economies, they went through a period
of rapid industrialization, and finally became service-based economies.

D.