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. Real GDP per capita
B
b. Real GDP
C
c. Nominal GDP
D
d. Inflation

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. Real GDP per capita

B

b. Real GDP

C

c. Nominal GDP

D

d. Inflation

BlackTom AI · Accepted Answer

Real GDP per capita directly measures average economic output per person, so it is the appropriate metric for comparing relative prosperity between countries.

1) Relevant knowledge points and concepts:
- GDP measures total economic output of a country. 
- Per capita (dividing by population) converts total GDP into an average per person, approximating standard of living. 
- Real GDP is adjusted for price level differences (inflation) so it reflects actual quantity of goods and services produced rather than nominal dollar changes.

2) Step-by-step reasoning and calculations:
- Compute GDP per capita for each country: GDP per capita = (GDP) / (Population).
- Country X: GDP = $500 billion; Population = 100 million.
  Intermediate step: $500 billion / 100 million = ($500,000 million) / (100 million) = $5,000 per person.
- Country Y: GDP = $400 billion; Population = 40 million.
  Intermediate step: $400 billion / 40 million = ($400,000 million) / (40 million) = $10,000 per person.

3) Interpretation of calculations:
- Country Y’s GDP per capita ($10,000) is twice Country X’s ($5,000), indicating higher average economic output per person in Country Y and therefore greater relative prosperity per resident.

4) Why the correct answer is correct:
- Real GDP per capita combines two necessary adjustments: it controls for population differences (per capita) and for price level changes (real), giving a clearer comparison of living standards or economic prosperity across countries.

5) Why the other options are incorrect:
- Real GDP (option b) measures aggregate output but ignores population size, so a larger country can have higher GDP without better average prosperity. 
- Nominal GDP (option c) is not adjusted for price level differences and can be misleading across time or countries with different inflation rates. 
- Inflation (option d) is a measure of price changes, not of economic prosperity.

Conclusion: Real GDP per capita (option a) is the most appropriate measure; this matches the provided correct answer.

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

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