Question

Review the chart to answer the question that follows. Total Population GDP Country A 5,000 10,000 Country B 10,000 15,000 Country C 2,000 8,000 Country D 1,000 5,000 Using only this chart, which step would you take first to compare the standard of living in these countries? Add the GDP numbers for the countries to get a total. Divide each GDP number by its country's population. Subtract each population number from its country's GDP. Multiply the population number by the GDP for each country.

Answer 1

Answer: Divide each GDP number by its country's population

Explanation:

Country - - - - - Total Population - - - - GDP

Country A - - - - - - 5,000 - - - - - - - 10,000

Country B - - - - - - 10,000 - - - - - - 15,000

Country C - - - - - - - 2,000 - - - - - - 8,000

Country D - - - - - - - 1,000 - - - - - - - 5,000

Using only the data above, to determine the standard of living, we need to calculate the GDP per capita which is used to evaluate a country living standard by evaluating a country's economic output per person.

It is obtained by getting the proportion of GDP and population.

COUNTRY A : 10000 / 5000 = 2

COUNTRY B: 15000 / 10000 = 1.5

COUNTRY C: 8000 / 2000 = 4

COUNTRY D: 5000 / 1000 = 5

USING the information above, COUNTRY D has the highest standard of living as they have the highest GDP(Gross Domestic Product) per capita.