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- Per capita GDP is used to measure a country's standard of living. What other economic factors impact the day-to-day life of citizens in a country?Is there a better way to classify a country other than the use of GDP and per capita? ExplainHigh-income countries United States Canada Japan France Middle-income countries i China India Libya Low-income countries Burundi Haiti Ethiopia Average Growth Rate (2000-2018) of GDP Population. 1.7 1.9 0.7 1.1 9.5 6.8 -1.2 3.1 1.4 9.8 0.8 1.0 0.0 0.6 0.5 1.4 1.2 3.1 1.5 2.8 Per Capita GDP 0.9 0.9 0,7 0.5 9.0 5.4 -2.4 0.0 -0.1 7.0 Assuming the 2019 per capita GDP growth rate is equal to the average growth rate (2000-2018) provided in the table, estimate 2019 per capita GDP for each of the following countries: Instructions: Round your responses to the nearest dollar. a. Japan: $[ b. Haiti: S
- Suppose country A has a GDP of 4000 with a population size of 200; country B has GDP of 9000 with a population size of 300. Which country is more likely to have a better living standard?Which GDP result (current or constant) is more appropriate for comparative purpose with other countries?An economy in which the economic activity of different countries is interrelated
- Compile a list of basic components of country development and describe themAverage Growth Rate (2000-2015) of Per Capita GDP Population GDP High-income countries United States 1.6 0.9 0.7 1.9 1. 0.9 CanadaThe social well-being of a country Is best measured by per capita GDP. Always increases when real GDP increases. Decreases when real GDP decreases. Is measured by more than changes in real GDP.
