Final answer:
Measures like national GDP, GDP per capita, and economic growth rate are crucial in evaluating economic power and prosperity, with GDP showing total economic output, GDP per capita indicating average individual wealth and economic growth reflecting developmental potential.
Step-by-step explanation:
Different measures like national GDP, GDP per capita, and average rate of economic growth are essential in evaluating which countries are perceived as economically powerful and prosperous in the global economy. The GDP of a country provides a broad view of its total economic output and serves as one of the primary indicators of economic health. By comparing GDP rates we can differentiate between countries' productive capabilities and performance on an international scale.
GDP per capita is a more nuanced measure that takes into account a country's population size, giving a clearer picture of the average wealth per individual and allowing for a more meaningful comparison between nations with different population sizes. For more accurate global comparisons, it is necessary to use purchasing power parity (PPP) or international dollars, which adjust for the different price levels of goods and services across countries, hence providing a more standardized measure of GDP per capita. The average rate of economic growth, typically quantified by the change in GDP over time, further delineates a country's developmental trajectory and long-term potential.