★ Must-know
In 2023, world population was 8.1 billion, while in 2022 world nominal GDP was $101.33 trillion and world GDP measured at purchasing power parity was $139.32 trillion.
In 2022, world GDP growth was 3.1%, world GDP per capita was $12,743.9 at market prices and $17,523 at purchasing power parity, and the international poverty line was $2.15 per day.
Further detail
1. Which 2022 measure of world economic output was higher?
2. Which statement correctly distinguishes the international poverty line from world GDP per capita in 2022?
3. Which sequence best describes the long-term growth of the world population?
What was the world population in 2023?
8.1 billion
What was the world GDP growth rate in 2022?
3.1%
How much did the world population grow from agriculture start to 2023?
From less than 5 million to 8.1 billion.
What is urbanization in terms of population growth?
Urban population grows faster than total population.
How do countries differ in terms of income and growth rates?
Countries differ greatly in income levels and growth rates.
What is nominal GDP measured at?
Current prices.
It covers the core concepts of Facts and Measurement of Economic Growth, organized by topic with the key definitions, explanations and takeaways, so it's easier to learn and remember.
Read the full study guide →The practice quiz has 11 multiple-choice questions, each with an explanation. Use it to check what you know and find your gaps.
Take the quiz (11 questions) →There are 10 flashcards on Facts and Measurement of Economic Growth, with a question on the front and the answer on the back. Try to recall each answer before you flip, and let spaced repetition bring back the ones you miss.
See all 10 flashcards →Upload a PDF or paste your notes. Revizly writes a study guide, a practice quiz and flashcards in about a minute.