ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -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-2: -GDP (gross domestic product) per capita is referred to as the measure of the economic output of a country, which is based on its population. GDP per capita is calculated by dividing the gross domestic product of a country with its population.

Detailed explanation-3: -How Do You Calculate Per Capita? To get per capita, divide a statistical measurement for an organization by that organization’s population. So, if 1, 000 apples are together owned by 10 people, we can say there are 100 apples per capita.

Detailed explanation-4: -GDP per capita. The formula divides the nation’s Gross Domestic Product. Further, if one is looking at just one point in time, then Nominal GDP can be used.