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Questions and Answers
Which formula represents GDP per capita?
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?
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?
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?
What is the relationship between a country's population and its GDP per capita?
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Which country has the highest aggregate GDP in the world according to the text?
Which country has the highest aggregate GDP in the world according to the text?
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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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