Comparing GDP Per Capita Levels and Growth Rates Across Nations
Depending on the inquiry, we may want to examine either levels or growth rates. Gross domestic product per capita in five countries,(Britain,Japan,Italy,China,India) allows for easy comparison of GDP per capita levels among countries and throughout history. On the other hand, the illustration of the living standards in five countries (1000–2018) using the ratio scale, enables comparisons of growth rates across nations and time periods. With a ratio scale, a series exhibiting constant growth appears as a straight line, as the percentage or proportional growth rate remains unchanged. A steeper line in a ratio scale graph signifies a more rapid growth rate.
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Figure 3.7: Evolution of GDP per Capita Relative to the US (US = 100) at Purchasing Power Parity (2009–2023)