5 Questions
Which formula represents GDP per capita?
GDP per capita = GDP / population
What is the purpose of using GDP per capita?
To compare countries' living standards
Which countries have the highest GDP per capita according to the text?
USA and Australia
What is the relationship between a country's population and its GDP per capita?
The higher the population, the lower the GDP per capita
Which country has the highest aggregate GDP in the world according to the text?
USA
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
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!
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
