marcoenomics

Assume Country X has much larger real GDP than county Y. Despite its low real GDP figure, is it possible for the standard of living, as measured by GDP per capita, in Country Y to be better than the standard of living in Country X?

Please explain.

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  1. assume the populations are vastly different. A 100 population country can have a much highter per captia GDP, yet lower GDP than a very high populated country.

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