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 = 1.3 billion; India's population = 1.1 billion
B) China's population = 8.3 billion; India's population = 1.1 billion
C) China's population = 3.5 billion; India's population = 1.1 billion
D) China's population = 500 million; India's population = 125 million
A
You might also like to view...
When the domestic currency is initially overvalued in a fixed exchange rate regime, the central bank must intervene in the foreign exchange market to ________ the domestic currency, thereby allowing the money supply to ________
A) purchase; decline B) sell; decline C) purchase; increase D) sell; increase
Where do banks get their money, and what do they do with the money once they have it? How do banks make a profit?
What will be an ideal response?