Solution
| Country | GDP | GDP per capita | GDP growth rate | Population growth rate |
|---|---|---|---|---|
| Country 1 | ||||
| Country 2 | ||||
| Country 3 | ||||
| Country 4 | ||||
| Country 5 | ||||
| Country 6 | ||||
| Country 7 | ||||
| Country 8 |
This table compares the GDP, GDP per capita, and population of eight countries, all of which are referenced using a consistent set of units.
Specifically, the GDP values are all given with the same country as the reference point (The reference point being Country 9)
i.e., if GDP of country 9 = 100 (let) then GDP of country 1 will be 0.15*100 = 15.
Similarly, the GDP per capita among the eight countries in the table is given using the same reference point (The reference point being Country 10)
i.e., if GDP per capita of country 10 = 100 then, GDP per capita of Country 1 will be 0.41 * 100 = 41.
As a result, when comparing two countries from the list in terms of GDP, GDP per capita, or population, we can directly use the values presented in the table, since they are all based on a uniform reference point.
Also, We can compare the population of two countries using the formula -
population = GDP/ GDP per capita.
We need to find which country has the smallest population in 2024. Since population isn't given directly, we use:
This works because if GDP per capita means dollars per person, then total GDP divided by dollars per person gives us the number of people.
Since all values are fractions relative to Countries 9 and 10, this relationship holds.
Calculating relative population for each country:
Country 1:
Country 2:
Country 3:
Country 4:
Country 5:
Country 6:
Country 7:
Country 8:
Comparing all populations:
Country 8: (smallest)
Country 7:
Country 5:
Country 4:
Country 1:
Country 2:
Country 6:
Country 3:
Country 8 has the smallest population because it combines low GDP with high GDP per capita , meaning few people with high income per person.
Country 8 has the smallest population in 2024.