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Brief Principles of Macroeconomics...

8th Edition
N. Gregory Mankiw
ISBN: 9781337091985

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BuyFindarrow_forward

Brief Principles of Macroeconomics...

8th Edition
N. Gregory Mankiw
ISBN: 9781337091985
Textbook Problem

The world’s rich countries, such as the United States and Germany, have income per person that is about _____ times the income per person in the world’s poor countries, such as Pakistan and India.

a. 2

b. 4

c. 10

d. 30

To determine

Comparison of GDP between rich and other countries.

Explanation

Option (c)

The U.S. and Germany have real GDP per person of $51,596 and $44,526 respectively, compared to Pakistan and India which have real GDP of $4,305 and $4,912 respectively. Thus the average income per person in rich countries is roughly 10 times the average income of India or Pakistan. Thus, option ‘c’ is correct.

Option (a)

By the data, the average income per person in rich countries like the U.S. and the Germany is roughly 10 times the average income of India or Pakistan...

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