ECONOMICS
ECONOMIC GROWTH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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GDP is often measured as “GDP per capita” (per person).
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I dont know what a GPD is
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Either A or B
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None of the above
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Detailed explanation-1: -Gross Domestic Product per capita or GDP per capita is a measure that calculates the country’s economic output that accounts for the number of people in the country or the country’s population. GDP per capita is calculated by dividing the country’s GDP by the country’s total population.
Detailed explanation-2: -GDP per capita is the sum of gross value added by all resident producers in the economy plus any product taxes (less subsidies) not included in the valuation of output, divided by mid-year population. Growth is calculated from constant price GDP data in local currency.
Detailed explanation-3: -A country’s GDP or gross domestic product is calculated by taking into account the monetary worth of a nation’s goods and services over a certain period of time, usually one year. It’s a measure of economic activity. This amount of wealth is divided among the country’s population to tell us its GDP per capita.
Detailed explanation-4: -GDP per capitais a metric that breaks down a country’s GDP per person and is calculated by dividing the GDP of a country by its population. Gross domestic product is the monetary value of all finished goods and services made within a country during a specific period.
Detailed explanation-5: -GDP measures the monetary value of final goods and services-that is, those that are bought by the final user-produced in a country in a given period of time (say a quarter or a year). It counts all of the output generated within the borders of a country.