One Limitation of Using GDP Per Capita to Compare Standards

question 26

Multiple Choice

One limitation of using GDP per capita to compare standards of living between countries is that it:

• A) does not account for what one can buy with a given amount of money in different countries.
• B) is less precise in countries with larger populations.
• C) does not clearly show the types of goods each country produces.
• D) fails to consider natural resources.

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Definitions:

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Strategy Canvas

A strategic management tool used for comparing current market positions of companies and to visualize strategies in uncontested market spaces.

Four Actions Framework

A strategic model used in business to create new value for customers and differentiate from competitors by systematically considering which factors to eliminate, reduce, raise, and create.

Strategic Focus

A business approach that involves prioritizing and concentrating efforts and resources on the most critical areas that will drive success.