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Research data sets regarding Gross Domestic Product within the country of Chile. In a 3 page report, answer the following questions: What are 2–3 relationships between the GDP and Chile'seconomy? What...

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  • Research data sets regarding Gross Domestic Product within the country of Chile.
  • In a 3 page report, answer the following questions:
    • What are 2–3 relationships between the GDP and Chile'seconomy?
    • What trends do you see in the data sets?
    • Support your assertions of the trends with statistical evidence.
    • Cite all of your sources correctly and include a reference list, both in APA style.

    • Answered Same Day Dec 21, 2021

    Solution

    Robert answered on Dec 21 2021
    119 Votes
    Chile is a an upper-middle income economy as per the  World Bank; it is one of South America's most economically stable nation, with healthy scores on the human development index and the index of Economic Freedom . A major weak point in the glowing statistics is its high level of economic inequality.
    Chile is a dynamic and market-oriented economy with a high level of foreign trade. This trade is mainly in the form of exports of minerals (copper), which contribute almost 50% to all exports. The state-owned copper producing CODELCO is the world's largest copper-producing firm. Other exports include forestry products, wood products, wine, fresh fruit, processed food, fishmeal and seafood. This dependence on copper implies that it is subject to fluctuations in international copper prices and primary product prices in general. This is a source of instability and uncertainty for Chile. Another problem is the inadequate domestic food supply. Frozen seafood products are the next most import export from Chile, contributing to nearly 45% of Chile’s fisheries-related exports. It contributes 4% to total world exports of fishery products.
    The economy of Chile has shown remarkable growth and success on the human development front. This was the result of its abundant natural resources, combined with the right...
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