Table 11-1

-Refer to Table 11-1.Based on the table above,which country has a higher standard of living and why?
A)Sweden has a higher standard of living because their GDP is higher.
B)Ireland has a higher standard of living because their GDP per capita is higher.
C)Sweden has a higher standard of living because their GDP per capita is higher.
D)Ireland has a higher standard of living because growth in GDP is greater in Ireland than in Sweden.

Question

Table 11-1
 
-Refer to Table 11-1.Based on the table above,which country has a higher standard of living and why?
A)Sweden has a higher standard of living because their GDP is higher. 
B)Ireland has a higher standard of living because their GDP per capita is higher. 
C)Sweden has a higher standard of living because their GDP per capita is higher. 
D)Ireland has a higher standard of living because growth in GDP is greater in Ireland than in Sweden.

Quizplus · Accepted Answer

The standard of living is more accurately reflected by GDP per capita rather than total GDP, as it accounts for the population size and indicates the average wealth of each person in the country. If Ireland has a higher GDP per capita, it suggests a higher standard of living compared to Sweden, regardless of the total GDP or GDP growth rates.

Table 11-1 -Refer to Table 11-1.Based on the Table Above,which Country Has