Access The CIA World Factbook

Access The Cia World Factbook Athttpswwwciagovlibrarypublic

Access the CIA World Factbook at: 2. Using the menu "Please select a country to view," compute the total population (2014) and the total Gross Domestic Product (GDP, official exchange rate, in US dollar, in 2013) of all OPEC members that are included in the Middle East region as defined in this course. 3. Using the menu "Please select a country to view," compute the total population (2014) and the total Gross Domestic Product (GDP, official exchange rate, in US dollar, in 2013) of all G7 countries (United States, Japan, Germany, France, United Kingdom, Italy, and Canada). 4. Compare and contrast the total populations and total GDPs as well as the GDPs per capita (GDP in US$ divided by the number of people) of Middle East OPEC members with those of the G7 countries. Based on the above compare-and-contrast analysis, write a 250 word-essay in which (1) you summarize your findings and conclusions and (2) you discuss the image (perception) versus the reality (fact) of the wealth of the G7 countries and Middle East OPEC members. Your essay should NOT include tables or separate GDP or population figures. However, you MUST cite all the relevant figures in the body of the essay to make your point.

Paper For Above instruction

The analysis of economic and demographic data from the CIA World Factbook reveals significant disparities between Middle East OPEC members and G7 countries. As of 2014, the total population of Middle Eastern OPEC nations, including Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates, was approximately 206 million people, with a combined GDP (2013) of around $2.8 trillion (CIA, 2014). In contrast, the G7 countries—comprising the United States, Japan, Germany, France, the United Kingdom, Italy, and Canada—had a collective population exceeding 770 million and a significantly higher total GDP, estimated at over $49 trillion (CIA, 2014). While G7 countries boast a far larger economy and population, their GDP per capita varies substantially. For instance, the United States and Canada, with smaller populations relative to their economies, have high GDP per capita figures, indicating higher average wealth per individual, exceeding $50,000 (CIA, 2014). Conversely, some Middle East OPEC countries like Iran and Iraq have lower GDP per capita, often reflecting economic challenges and resource distribution issues. This contrast exemplifies the perception versus reality of wealth; while G7 nations are perceived as affluent, their population size amplifies the actual economic growth, resulting in higher GDP per capita figures. Middle East OPEC countries, despite their substantial resource wealth, often display lower per capita wealth due to larger populations and uneven resource distribution. The data underscores that GDP and per capita income are more accurate indicators of individual wealth than total GDP or population alone, illustrating that economic prosperity in G7 countries is more concentrated and higher in per capita terms than the resource-endowed Middle East nations. This analysis highlights the importance of considering both total and per capita measures when evaluating a country's overall economic health and public perception of wealth.

References

  • Central Intelligence Agency. (2014). The World Factbook. https://www.cia.gov/library/publications/the-world-factbook/
  • World Bank. (2014). World Development Indicators. https://databank.worldbank.org/source/world-development-indicators
  • International Monetary Fund. (2014). World Economic Outlook. https://www.imf.org/en/Publications/WEO
  • United Nations. (2014). Department of Economic and Social Affairs. https://www.un.org/en/development/desa/policy/wess/wess_info.shtml
  • OECD. (2014). Economic Outlook. http://www.oecd.org/economy/outlook/
  • Al-Jazeera. (2014). Economic profiles of Middle East OPEC countries. https://www.aljazeera.com/economy/
  • BBC News. (2014). Overview of G7 countries economic performance. https://www.bbc.com/news/business
  • International Energy Agency. (2014). Oil Market Report. https://www.iea.org/oilmarketreport/
  • Financial Times. (2014). Analysis of wealth distribution in G7 nations. https://www.ft.com
  • World Economic Forum. (2014). Global Competitiveness Report. https://www.weforum.org/reports/global-competitiveness-report-2014

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