Using the data in Table 32.3, rank the seven regions of the world according to GDP and then according to GDP per capita.
The rank:
The given regions of the world according to the GDP and then according to the GDP per capita
Explanation of Solution
As per the table given, the rankings are as follows:
Countries | Population
|
GDP per capita
|
Ranking as GDP | |
East Asia and Pacific | I | |||
Latin America and Caribbean | II | |||
South Asia | III | |||
Europe and Central Asia | IV | |||
Middle East and North Africa | V | |||
Sub-Saharan Asia | VI |
Countries | Population
|
GDP per capita
|
Ranking as GDP per capita | |
Latin America and Caribbean | I | |||
Europe and Central Asia | II | |||
East Asia and Pacific | III | |||
Middle East and North Africa | IV | |||
Sub-Saharan Asia | V | |||
South Asia | VI |
Economist measures a nation’s standard of living through its GDP per capita. GDP measures annual economic output that is total value of goods and services produced within a country.
The low-income countries are those which are having GDP per capita income less than
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