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According to the given graph (see World View, "GDP Per Capita Around The World"), per capita GDP in the United States was approximately times higher than the average for the rest of the world. (Insert a whole number.)

Question

According to the given graph (see World View, "GDP Per Capita Around The World"), per capita GDP in the United States was approximately times higher than the average for the rest of the world. (Insert a whole number.)

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Solution

To answer the question step by step, follow these instructions:

  1. Identify the Data Points: Locate the per capita GDP for the United States and the average per capita GDP for the rest of the world on the given graph.

  2. Extract the Values: Note down the numerical values of the per capita GDP for both the United States and the rest of the world.

  3. Calculate the Ratio: Divide the per capita GDP of the United States by the average per capita GDP of the rest of the world to find the ratio.

  4. Round to a Whole Number: Round the resulting ratio to the nearest whole number.

  5. Insert the Whole Number: Use the rounded whole number to complete the sentence.

Since the graph is not provided here, let's assume hypothetical values for illustration:

  • Suppose the per capita GDP of the United States is $60,000.
  • Suppose the average per capita GDP for the rest of the world is $10,000.

Now, perform the calculation:

  1. Identify the Data Points:

    • United States: $60,000
    • Rest of the World: $10,000
  2. Extract the Values:

    • United States: $60,000
    • Rest of the World: $10,000
  3. Calculate the Ratio: Ratio=Per Capita GDP of the United StatesAverage Per Capita GDP of the Rest of the World=60,00010,000=6 \text{Ratio} = \frac{\text{Per Capita GDP of the United States}}{\text{Average Per Capita GDP of the Rest of the World}} = \frac{60,000}{10,000} = 6

  4. Round to a Whole Number: The ratio is already a whole number, 6.

  5. Insert the Whole Number:

    • The per capita GDP in the United States was approximately 6 times higher than the average for the rest of the world.

Therefore, the answer is 6.

This problem has been solved

Similar Questions

The average real GDP per capita across the world in 2018 was about:Multiple choice question.$30,000 compared to the United States where real GDP per capita was about $60,000.$10,000 compared to the United States where real GDP per capita was about $25,000.$24,000 compared to the United States where real GDP per capita was about $40,000.$16,565 compared to the United States where real GDP per capita was about $61,391.

What is per capita GDP?

Per capita GDP is a country's GDP divided by population.Group of answer choicesTrueFalse

In terms of wealth, as the pie chart at the right in Figure 10–1 shows, global inequality is even greater. A rough estimate is that the richest 20 percent of the world’s adults own about 94 percent of the planet’s wealth. About half of all wealth is owned by about 1 percent of the world’s adult population. On the other extreme, the poorest half of the world’s adults own less than 1 percent of all global wealth. In terms of dollars, about half the world’s families have less than $2,500 in total wealth, far less than the median wealth for U.S. families, which is about $90,000 (Bricker et al., 2014; Shorrocks et al., 2018).Because the United States is among the world’s richest countries, even people in the United States with income well below the government’s poverty line live far better than the majority of people on the planet (Milanovic, 2011). The average person living in a rich nation such as the United States is extremely well off by world standards. Family wealth in the United States is four times greater than in China, fifty times greater than in India, and about 200 times greater than in the low-income nations of Africa (Shorrocks et al., 2018). All three of the world’s richest people—Jeff Bezos (Amazon CEO), Bill Gates (a Microsoft founder), and Warren Buffet (successful investor)—live in the United States, and each of these men is worth more than $85 billion, an amount that roughly equals the combined economic output of 97 of the world’s countries (World Bank, 2016; Forbes, 2019).

If the GDP per capita for Country T is $45,020 and the population is 153 people, what is the real GDP for Country T?

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