a. On what criterion is China the second largest economy in the world?
b. What is the distinction between the size of an economy and the standard of living of its people?
c. Where does China rank on a standard of living comparison? How is that rank changing and why?
d. What is the distinction between market prices and PPP prices?
e. Using PPP prices, where does China’s economy rank in size and standard of living?
f. For what might the size of an economy matter?