Question

Choose the statement that is incorrect.

A.China, although one of the​ world's largest​ economies, is ranked much lower in terms of standard of living because of its very large population.
B.The size of an economy is measured by its real GDP.
C.The standard of living in a country is measured by real GDP per person.
D.A country with a large population cannot have a high standard of living.

Answer 1

The statement that is incorrect is D. A country with a large population cannot have a high standard of living.

Step-by-step explanation:

The statement that is incorrect is D. A country with a large population cannot have a high standard of living. While it is true that countries with larger populations may face challenges in distributing resources and improving living standards, it is not impossible for a country with a large population to have a high standard of living. The standard of living in a country is measured by real GDP per person, which takes into account the size of the economy and the population. China, for example, has a large population but also has a high GDP. However, when we calculate the GDP per capita, we see that China's per capita GDP is lower compared to countries with smaller populations, indicating that its standard of living is lower relative to those countries.