(Table 3: Economic Data for Countries A, B, C, and D

question 64

Multiple Choice

(Table 3: Economic Data for Countries A, B, C, and D, 2008 to 2018) Table 3 provides data on real GDP, real GDP per capita, and growth in real GDP per capita over a decade. Which country had the lowest standard of living in 2018?
$\begin{array}{l}\text { Table 3. Economic Data for Countries A, B, C, and D, } 2008 \text { to } 2018\\\begin{array}{|l|l|l|l|l|}\hline & \text { Country A } & \text { Country B } & \text { Country C } & \text { Country D } \\\hline 2008 \text { real GDP } & \$ 5,000 & \$ 7,000 & \$ 15,000 & \$ 33,000 \\\text { per capita } & & & & \\\hline 2008 \text { real GDP } & \$ 500 \text { billion } & \$ 300 \text { billion } & \$ 900 \text { billion } & \$ 2 \text { trillion } \\\hline 2018 \text { real GDP } & \$ 9,000 & \$ 10,000 & \$ 20,000 & \$ 36,000 \\\text { per capita } & & & & \\\hline 2018 \text { real GDP } & \$ 910 \text { billion } & \$ 430 \text { billion } & \$ 1.4 \text { trillion } & \$ 2.2 \text { trillion } \\\hline\end{array}\end{array}$

• A) A
• B) B
• C) C
• D) D

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Definitions:

Credit Balance

A condition where the sum of credits in an account exceeds the sum of debits, often signaling a net liability or income.

Liability Account

An account on a company's balance sheet that represents obligations or debts that the company is responsible for repaying.

Error

An unintentional mistake in financial records or transactions, which can result from miscalculations, misunderstandings, or misinterpretations of financial data.

Transactions

Financial activities that involve the exchange of assets, provision of services, or other business activities that affect a company's financial position.