Asked by
Elizabeth Vasquez
on Nov 26, 2024Verified
Which of the following countries had the highest per capita income (on a purchasing power parity basis) in 2017?
A) China
B) United States
C) Japan
D) Brazil
Per Capita Income
The per capita income in a particular area or country, found by taking the total revenue generated in that area and dividing it by the population size.
Purchasing Power Parity
An economic theory that compares different countries' currencies through a "basket of goods" approach to determine the relative value of the currencies.
- Identify economic measures used to classify countries' development status and their implications on development.
Verified Answer
RK
Learning Objectives
- Identify economic measures used to classify countries' development status and their implications on development.