Country Real GDP (millions of dollars) Population (millions of people) Country A $3,850 9.05 Country B $3,850 4.21 . Based on the table above, which country has a higher standard of living and why?   A. Country B has a higher standard of living because growth in GDP is greater in Country B than in Country A.   B. Both countries have the same standard of living because their real GDP is equivalent.   C. Country A has a higher standard of living because growth in GDP is greater in Country A than in Country B.   D. Country A has a higher standard of living because their real GDP per capita is higher.   E. Country B has a higher standard of living because their real GDP per capita is higher.

Essentials of Economics (MindTap Course List)
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ISBN:9781337091992
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Chapter17: Production And Growth
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Country

Real GDP
(millions of dollars)

Population
(millions of people)
Country A $3,850 9.05
Country B $3,850 4.21

.
Based on the table above, which country has a higher standard of living and why?

  A.

Country B has a higher standard of living because growth in GDP is greater in Country B than in Country A.

  B.

Both countries have the same standard of living because their real GDP is equivalent.

  C.

Country A has a higher standard of living because growth in GDP is greater in Country A than in Country B.

  D.

Country A has a higher standard of living because their real GDP per capita is higher.

  E.

Country B has a higher standard of living because their real GDP per capita is higher.

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