Country X has a population of 100 million and a GDP of $500 billion in 2017. Country Y has a population of 40 million and a GDP of $400 billion in 2017. Which economic measure would be most appropriate to make a comparison of the relative economic prosperity of each country?单项选择题
A
a. Nominal GDP
B
b. Inflation
C
c. Real GDP per capita
D
d. Real GDP

Question

Country X has a population of 100 million and a GDP of $500 billion in 2017. Country Y has a population of 40 million and a GDP of $400 billion in 2017. Which economic measure would be most appropriate to make a comparison of the relative economic prosperity of each country?单项选择题

A

a. Nominal GDP

B

b. Inflation

C

c. Real GDP per capita

D

d. Real GDP

BlackTom AI · Accepted Answer

Real GDP per capita measures the inflation-adjusted value of goods and services produced per person, so it captures both the size of output and the population over which that output is spread.

1) Relevant knowledge points and concepts
- GDP (Gross Domestic Product) measures total market value of final goods and services produced in a country.
- Nominal GDP is measured in current prices; real GDP is adjusted for price level changes (inflation).
- Per capita = total divided by population; GDP per capita approximates average economic output or income per person.
- For comparing relative economic prosperity between countries, a real (inflation-adjusted) per-person measure is most informative.

2) Step-by-step reasoning
- We need a measure that accounts for differences in both total output and population size.
- Total GDP alone (nominal or real) ignores population and can mislead (a large economy with many people can have low average prosperity).
- Inflation by itself is not a measure of prosperity.
- Therefore choose GDP per capita, and because real adjusts for price differences over time, real GDP per capita is preferred.

3) Calculations (intermediate steps)
- Country X: GDP = $500 billion; population = 100 million.
  Real GDP per capita (X) = $500 billion / 100 million = $5,000 per person.
- Country Y: GDP = $400 billion; population = 40 million.
  Real GDP per capita (Y) = $400 billion / 40 million = $10,000 per person.
- These computations show Country Y has a higher average output per person.

4) Why the correct answer is correct
- Real GDP per capita compares average, inflation-adjusted economic output across populations, directly addressing “relative economic prosperity” per person.

5) Why the other options are incorrect
- a. Nominal GDP: total value at current prices; doesn’t adjust for inflation and ignores population size.
- b. Inflation: measures price level changes, not prosperity.
- d. Real GDP: adjusts for inflation but is a total economy size metric; it doesn’t account for differences in population.

6) Conclusion
- The most appropriate measure is c. Real GDP per capita, which matches the provided answer.

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