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What one should see while comparing nations economic position with other?



A. GDP
B. Per Capita GDP
C. Currency in circulation
D. None of the above

This question is part of Macroeconomics Practice Quiz
Asked by Baalperasim, Last updated: May 28, 2020

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3 Answers

Chris Kenway

Chris Kenway, Content Writer, Jacksonville

Answered Apr 09, 2019

The correct answer to this question is B, per capita GDP. It is used to compare countries economic output to one another. It compares this by its residents. It divides the economic output by the country's population. Per capita GDP, which stands for gross domestic product, can be used to compare any country to another.

The term per capita is a Latin phrase, which means for each individual or person. To put per capita GDP in presepective, China has a low rank because it has a large population. However, United States ranks higher because it has much fewer people than China has.

 

John Adney

John Adney

Answered Feb 25, 2017


sisay bezabeh

1. GDP
 

John Smith

John Smith

Answered Nov 25, 2016

Per Capita GDP
 2

John Adney

John Adney

Replied on Sep 06, 2017

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John Adney

John Adney

Replied on Sep 06, 2017

U suk vegane

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