BUSINESS ADMINISTRATION
BUSINESS ENVIRONMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Higher expenditure
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High per capita income
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High taxes
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High levels of service
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Detailed explanation-1: -The study reveals that per capita GDP negatively affects the population growth meaning that an increase in the per capita GDP actually decreases the population growth of a country.
Detailed explanation-2: -Because the GDP is divided by the total number of workers, the GDP per capita very closely reflects the ‘average’ revenue per person in the economy. As GDP grows it is assumed that everyone in the chain will benefit and the growth will have a trickledown effect on the population, thus improving standard of living.
Detailed explanation-3: -Broadly speaking, there are two main sources of economic growth: growth in the size of the workforce and growth in the productivity (output per hour worked) of that workforce. Either can increase the overall size of the economy but only strong productivity growth can increase per capita GDP and income.
Detailed explanation-4: -Luxembourg The small country of Luxembourg, with an estimated population of about 632, 000 people in 2020 per World Bank, had $49, 860 in disposable income per capita that year.