According to the World Bank, in 2006, China's GDP was approximately 2.7 trillion (or 2,700 billion). That same year, India's GDP was approximately 906.3 billion.
With which of the following populations would China's standard of living have been considered higher than India's that year?
A) China's population = 500 million; India's population = 125 million
B) China's population = 8.3 billion; India's population = 1.1 billion
C) China's population = 1.3 billion; India's population = 1.1 billion
D) China's population = 3.5 billion; India's population = 1.1 billion
Question 2
Refer to Table 22-1. Based on the table above, which country has a higher standard of living and why?
A) Ireland has a higher standard of living because growth in GDP is greater in Ireland than in Sweden.
B) Sweden has a higher standard of living because their GDP is higher.
C) Ireland has a higher standard of living because their GDP per capita is higher.
D) Sweden has a higher standard of living because their GDP per capita is higher.
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