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Which of the following is the largest economy in the world? a. USA b. China c. Japan d. Saudi Arabia

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Question ajoutée par Ali Yakub Seesi Rutherfod , Deputy DIRECTOR of Education , Head of Department of Social Science , St. Jerome Snr High School
Date de publication: 2015/07/29
Vinod Jetley
par Vinod Jetley , Assistant General Manager , State Bank of India

The answer is a.

United States

The US economy is the largest economy in the world in terms of nominal GDP (measured at current prices in US dollars). The $17.41 trillion US economy is approximately22.44 percent of the gross world product. The United States is an economic superpower that is highly advanced in terms of technology and infrastructure and has abundant natural resources. However, the US economy loses its spot as the Number One economy by a slight margin to China when measured in terms of GDP based on PPP. In these terms, China’s GDP is $17.63 trillion and the US GDP is $17.41 trillion. However, the US is way ahead of China in terms of GDP per capita (PPP)-- approximately $54,678 in the US versus $12,893 in China.

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