Question
According to the World Bank, current nominal GDP per capita in 2012 was close to 5,000for china and 36000 for the US.This implies that the
According to the World Bank, current nominal GDP per capita in 2012 was close to 5,000for china and 36000 for the US.This implies that the typical US person had 36 times the purchasing power of a typical Chinese person.
A.False.The purchasing power needs to be computed on a ppp basis. China's PPP income is much larger, relative to that of US
B.TRUE.The typical US person has 36 times the purchasing power of a typical Chinese person.
C.FALSE.The typical US person had 7.2 times the purchasing power of a typical Chinese person.
D.None of the above answers
E.A and B are both correct
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