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How well do you know GDP per capita?

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Questions and Answers

Which formula represents GDP per capita?

GDP per capita = population x GDP

GDP per capita = GDP / population (correct)

GDP per capita = GDP x population

GDP per capita = population / GDP

What is the purpose of using GDP per capita?

To compare countries' economies based on total GDP

To compare countries' living standards (correct)

To determine a country's level of political stability

To measure a country's population growth rate

Which countries have the highest GDP per capita according to the text?

Germany and France

Russia and China

USA and Australia (correct)

India and Africa

What is the relationship between a country's population and its GDP per capita?

<p>The higher the population, the lower the GDP per capita</p> Signup and view all the answers

Which country has the highest aggregate GDP in the world according to the text?

<p>USA</p> Signup and view all the answers

Study Notes

GDP per Capita Formula

The formula to calculate GDP per capita is: GDP per capita = Total GDP ÷ Total Population

Purpose of GDP per Capita

GDP per capita is used to estimate the standard of living of a country's citizens
It helps to compare the economic well-being of different countries

Countries with Highest GDP per Capita

Qatar has the highest GDP per capita
Luxembourg and Singapore follow as the top three countries with the highest GDP per capita

Population and GDP per Capita Relationship

As a country's population increases, its GDP per capita tends to decrease
This is because the total GDP is divided among a larger population, resulting in a lower per capita value

Highest Aggregate GDP

The United States has the highest aggregate GDP in the world

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Description

Test your knowledge on GDP per capita with this informative quiz! Learn how to calculate GDP per capita and understand why it is an important indicator of a country's economic well-being. Explore the factors that influence GDP per capita and how it can be used to compare different countries. Get ready to become an expert on this essential economic measure!