BUSINESS ADMINISTRATION
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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GDP divided by the value of capital inputs
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GDP divided by the population
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GDP divided by the number of workers
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GDP divided by the number of weeks in the year
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Detailed explanation-1: -GDP per capita, purchasing power parity (PPP) (current international $)-This is the GDP divided by the midyear population, where GDP is the total value of goods and services for final use produced by resident producers in an economy, regardless of the allocation to domestic and foreign claims.
Detailed explanation-2: -GDP per capita is gross domestic product divided by midyear population. GDP at purchaser’s prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products.
Detailed explanation-3: -Real GDP divided by Population. This is the “average” output of the economy per person measured in a base year prices. This ratio is often used as a measure of standard of living in comparisons over time of one country, or between different countries when measured in the same currency.
Detailed explanation-4: -Real GDP Per Capita = Nominal GDP/(1+ Deflator)/Population Where, Nominal GDP/Deflator will be Real GDP.