Gross Domestic Product by Land Area in South America

Sep 25, 2017
Scatter plot of area and GDP

The chart above shows economic output as it relates to land area.  The countries to the top left of the diagonal line have a gross domestic product (GDP) of over one million international dollars per square kilometer, while countries to the bottom right have a GDP that is less than one million dollars per square kilometer.  Ecuador, Colombia, and Chile have the largest ratio of GDP to area whereas Paraguay, Suriname, and Guyana have the smallest ratio of GDP to area.

Gross Domestic Product by Land Area in North America

Sep 22, 2017
Scatter plot of area and GDP

The chart above shows economic output as it relates to land area.  The countries to the top left of the diagonal line have a gross domestic product (GDP) of over one million international dollars per square kilometer, while countries to the bottom right have a GDP that is less than one million dollars per square kilometer.  Puerto Rico, Trinidad and Tobago, and Barbados have the largest ratio of GDP to area whereas Nicaragua, Canada, and Belize have the smallest ratio of GDP to area.

The Correlation between Minimum Wage and Shadow Economies Worldwide

Sep 21, 2017
Scatter plot of shadow economies and GDP

Worldwide, the inverse correlation between the strength of the shadow economy and the minimum wage is pretty strong.  As the proportion of the shadow economy decreases, the minimum wage tends to go up.

The Correlation between Minimum Wage and Shadow Economies in Oceania

Sep 20, 2017
Scatter plot of shadow economies and GDP

In Oceania, the inverse correlation between the strength of the shadow economy and the minimum wage is extremely strong.  However, the sample size if four countries so it needs more data.

The Correlation between Minimum Wage and Shadow Economies in Africa

Sep 19, 2017
Scatter plot of shadow economies and GDP

In Africa, the inverse correlation between the strength of the shadow economy and the minimum wage is very weak.  There is no real relationship between the strength of the shadow economy and minimum wage.

The Correlation between Minimum Wage and Shadow Economies in Asia

Sep 18, 2017
Scatter plot of shadow economies and GDP

In Asia, the inverse correlation between the strength of the shadow economy and the minimum wage is very weak.  There is no real relationship between the strength of the shadow economy and minimum wage.

The Correlation between Minimum Wage and Shadow Economies in Europe

Sep 15, 2017
Scatter plot of shadow economies and GDP

In Europe, the inverse correlation between the strength of the shadow economy and the minimum wage is very strong.  As the shadow economy weakens, the minimum wage tends to be higher.

The Correlation between Minimum Wage and Shadow Economies in South America

Sep 14, 2017
Scatter plot of shadow economies and GDP

In South America, the inverse correlation between the strength of the shadow economy and the minimum wage is pretty weak.  There is no real relationship between the strength of the shadow economy and minimum wage.

The Correlation between Minimum Wage and Shadow Economies in North America

Sep 13, 2017
Scatter plot of shadow economies and GDP

In North America, the inverse correlation between the strength of the shadow economy and the minimum wage is somewhat strong.  As the proportion of the shadow economy decreases, the minimum wage tends to go up.

The Correlation between Minimum Wage and Economic Strength Worldwide

Sep 12, 2017
Scatter plot of shadow economies and GDP

Worldwide, the correlation between economic strength and the minimum wage is pretty strong.  Most countries have low minimum wages and a small per capita GDP PPP.


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