From the World's Largest Economies 2016 visual, we can conclude which of the following to be the most true? A) China had the highest living standards in the world. B) People in Japan had higher living standards than people in Italy. C) The United States has had the highest living standards in the world for over a decade. D) There is no correlation between GDP and GDP per capita when measuring living standards.
From the World's Largest Economies 2016 visual, we can conclude which of the following to be the most true? A) China had the highest living standards in the world. B) People in Japan had higher living standards than people in Italy. C) The United States has had the highest living standards in the world for over a decade. D) There is no correlation between GDP and GDP per capita when measuring living standards.
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter19: The Macroeconomic Perspective
Section: Chapter Questions
Problem 32P: In 1980, Denmark had a GDP of 70 billion (measured in U.S. dollars} and a population of 5.1 million....
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From the World's Largest Economies 2016 visual, we can conclude which of the following to be the most true?
A) China had the highest living standards in the world.
B) People in Japan had higher living standards than people in Italy.
C) The United States has had the highest living standards in the world for over a decade.
D) There is no correlation between GDP and GDP per capita when measuring living standards.
Transcribed Image Text:World's Largest Economies by GDP, 2016
Rank Country
2016 GDP (billions of
dollars)
Per capita GDP (U.S.
dollars)
$18,624
$57,638
United
States
2
China
11,199
8,123
Japan
4,940
38,901
4
Germany
3,478
42,070
Transcribed Image Text:4
Germany
3,478
42,070
United
2,648
40,341
Kingdom
6
France
2,465
36,855
7
India
2,264
1,710
8
Italy
1,859
30,675
Brazil
1,796
8,650
10
Canada
1,530
42,158
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