Can anyone help me with this... Are GDP, per capita income, balance of trade, and unemployment related to each other? in what way? any help is appreciated...
i know they are related... is it like this? NOPE i am not looking for somebody to do my paperwork... i just want to have an idea... and if my answer is right... GDP, per capita income, balance of trade, and unemployment are related to each other in way that if you have more GDP then you will likely have per capita income; and you try to export your own commodity in order to have more income at the same time, you are allowing one country to import their products to your country to make the trade of your country be balance; the more GDP you have, the less unemployment you have, since more people are working. Moreover, if there is no products or goods to produce, there is no work to be done among the people, and then unemployment comes in. Who will do the harvesting of agricultural products? Or who will work in factories to make certain devices or equipments?