Comparing national output across nations Go back to the Week 7 Module and look at the three weblinks near the bottom (GDP, PPP GDP and PPP GDP per capita). Each link will take you to a Wikipedia page that offers three different measures for looking at national output. To be consistent let's use IMF estimates (the first column). 1. What is PPP GDP and why do we need to use it? 2. Why is PPP GDP per capita a better measure then GDP alone? 3. Look up the stats for the following countries: 4. Why does Luxembourg rank so high and China so low in PPP GDP per capita? is everybody in Luxembourg wealthy? 5. Which large country ranks the highest in PPP GDP per capita? 6. Take a closer look at the average income level per person per year, for people living in the Central African Republic? Offer an economic explanation about how they can survive on that?.