To compare the standard of living in these countries using the given chart, the best approach would be to use a metric that reflects the relative wealth produced per person. A commonly used metric for this purpose is the GDP per capita, which is calculated by dividing the GDP of each country by its population. This metric gives us a value that represents the average economic output per person, thereby facilitating a direct comparison of standards of living between the countries.
Step-by-step, you would:
1. Start with Country A:
- Divide the GDP of Country A by its population:
[tex]\[
\text{GDP per capita for Country A} = \frac{10,000}{5,000} = 2.0
\][/tex]
2. Next, Country B:
- Divide the GDP of Country B by its population:
[tex]\[
\text{GDP per capita for Country B} = \frac{15,000}{10,000} = 1.5
\][/tex]
3. Then, Country C:
- Divide the GDP of Country C by its population:
[tex]\[
\text{GDP per capita for Country C} = \frac{8,000}{2,000} = 4.0
\][/tex]
4. Finally, Country D:
- Divide the GDP of Country D by its population:
[tex]\[
\text{GDP per capita for Country D} = \frac{5,000}{1,000} = 5.0
\][/tex]
After these calculations, the GDP per capita values are:
- Country A: 2.0
- Country B: 1.5
- Country C: 4.0
- Country D: 5.0
These values indicate the relative standard of living in each country. Comparing these values, Country D has the highest GDP per capita, suggesting it has the highest standard of living among the four countries by this measure. The step you should take is thus:
Divide each GDP number by its country's population
