ECONOMICS
BUSINESS CYCLES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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population.
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average birth rates.
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number of households.
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None of the above
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Detailed explanation-1: -GDP per capita is calculated by dividing the gross domestic product of a country with its population. GDP per capita is a measure of the prosperity of a country. It is used as a metric by economists in order to determine the growth of a nation and compare its productivity with other countries on a global scale.
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: -Average income is calculated by dividing the total income of the country by its total Population.