ECONOMICS
GDP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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USA
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China
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Germany
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Japan
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Detailed explanation-1: -It has the world’s second largest economy by nominal GDP, totaling around US$18.321 trillion in 2022, and the world’s largest economy since 2016 when measured by purchasing power parity (PPP). China accounted for 18.6% of global economy in 2022 in PPP terms, and around 18% in nominal terms in 2022.
Detailed explanation-2: -In other words, the amount of all income generated in the country from the sale of goods and services. With a GDP of 23.32 trillion dollars, the USA is by far the world’s largest economy in this ranking for 2021. It is followed by China in second place with a GDP of 17.73 trillion dollars.
Detailed explanation-3: -In 2010, China overtook Japan to become the world’s second largest economic power behind the United States in terms of GDP expressed in current dollar terms.