Building a development database (Part 3)
- Return to the World Bank data website site and find GDP, GNP and GDP per capita figures for the following countries expressed in terms purchasing power parity and add them to your economic development spreadsheet:
- Explain the effect of valuing GDP, GNP and GDP per capita in terms of purchasing power parity (PPP), rather than simply expressing them in US dollars.
- Identify the values which are greater and whether this is the case for all countries.
- Produce a list showing the countries in rank order based on GDP per capita (PPP).
- Are the figures the same? Which countries show the largest variation between the two values? Can you offer some reasons why this might be the case?
- How does it compare with the list expressed in terms of GDP per capita (US dollars) Is the rank order the same? If not, why do you think this is?