Literacy Rate and Educational Expenditure
Literacy is the ability to read and write, but a country's literacy rate is counted as all people above the age of 15 that can read and write. If they counted the total population for the literacy rate, they would end up counting infants who aren't expected to read and write. Also, a country's population will feel more comfortable with a 100% literacy rate that only includes people older than 15, than with a literacy rate of 70% including infants. As of 2010, Spain had an overall literacy rate of 97.7%. The overall male literacy rate was 98.5% and the female rate was 97%. In 2011, Spain spent a total of $66,124,760,000 (USD) on its public education system. The nation also does have a number of individually funded private schools which is not included in the total.
Literacy and education relate to unemployment and GDP. When a country is very educated and has a high literacy rate, there will be a lower unemployment rate, unless it is frictional unemployment. A nation with a highly educated population will most likely have a highly employed population, as well. A country with a highly educated and employed population will have a high real output, thus increasing the country's GDP.
Literacy and education relate to unemployment and GDP. When a country is very educated and has a high literacy rate, there will be a lower unemployment rate, unless it is frictional unemployment. A nation with a highly educated population will most likely have a highly employed population, as well. A country with a highly educated and employed population will have a high real output, thus increasing the country's GDP.
Consumption
Household consumption accounted for 58.26% of Spain's GDP in 2011. Approximately, $0.7 trillion is spent on household consumption. Consumption basically includes the costs of things we use on a daily basis, such as food, water, electricity, gasoline, rent, and even kitchen and laundry appliances.
This relates to consumer spending and GDP. The people that consume these things are called consumers. When a consumer consumes these things, it is called consumer spending. When household consumption accounts for more than half of a nation's GDP, it can mean many things. It can mean that consumers spend more on necessities than unnecessary objects. It can also mean that when the consumers are buying products, they buy a majority of imported products, which is not causing their own GDP to increase.
This relates to consumer spending and GDP. The people that consume these things are called consumers. When a consumer consumes these things, it is called consumer spending. When household consumption accounts for more than half of a nation's GDP, it can mean many things. It can mean that consumers spend more on necessities than unnecessary objects. It can also mean that when the consumers are buying products, they buy a majority of imported products, which is not causing their own GDP to increase.