ECONOMICS
BUSINESS CYCLES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Real GDP per capita takes into account population
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Real GDP per capita takes into unemployment
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Real GDP per capita takes into exchange rates
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Real GDP per capita takes into account savings
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Detailed explanation-1: -GDP is a measure of a nationÃs economic health while GDP per capita takes into account the reflection of such economic health into an individual citizenÃs perspective. 2. GDP measures the nationÃs wealth while GDP per capita roughly determines the standard of living in a particular country. 3.
Detailed explanation-2: -Real GDP takes into account inflation. In other words, Real GDP measures the actual increase in goods and services and excludes the impact of rising prices. Real GDP per capita takes into account the average GDP per person in the economy.
Detailed explanation-3: -Real GDP per capita is calculated by dividing GDP at constant prices by the population of a country or area. The data for real GDP are measured in constant US dollars to facilitate the calculation of country growth rates and aggregation of the country data.
Detailed explanation-4: -Nominal GDP reflects the raw numbers in current dollars unadjusted for inflation. Real GDP adjusts the numbers by fixing the currency value, thus eliminating any distortion caused by inflation or deflation.