What proportion of GWP is earned by high income economies?

Prepare for the HSC Economics Exam with comprehensive study materials, including flashcards and multiple choice questions. Each question offers hints and detailed explanations to boost your confidence and help you ace your exam!

High-income economies are significant contributors to global wealth, earning approximately two-thirds of Gross World Product (GWP). This high share reflects the advanced industrial base, developed infrastructures, and higher productivity levels typically found in these economies.

In the context of global economics, GWP represents the total economic output of all countries combined. High-income countries, often characterized by high per capita income and advanced technological capabilities, generate substantial economic activity, driving global growth and trade. Therefore, it is logical that they would account for a sizable portion of GWP.

While the other options suggest varying degrees of output, only the figure representing two-thirds accurately captures the economic reality that high-income economies dominate global production and contribute significantly to worldwide economic performance.

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