Team discussion 2: GDP/ capita in different countries – Discussion Answer

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Team discussion 2: GDP/ capita in different countries – Discussion

 

At this website you will find a list of GDP/capita for most countries in the world

https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP)_per_capita (Links to an external site.)

What do you find surprising about the data here?

What is potentially misleading about how well off a country’s people are based on this data for GDP/capita?

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Team discussion 2: GDP/ capita in different countries – Discussion Answer 

 

The most surprising info from the table is that US is only no. 15. It is more surprising that that countries belonging to Asia, such as Singapore and Qatar, and also small European countries such as Ireland and Switzerland, overtake US in terms of GDP.

The following factor could be the misleading element from the data:

This question is taken from Econ 102 – Principles of Macroeconomics » Fall 2021 » Discussions