ECONOMICS
GDP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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$3, 000
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$300
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$30
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$5
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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: -Real GDP Per Capita = Nominal GDP/(1+ Deflator)/Population Where, Nominal GDP/Deflator will be Real GDP.
Detailed explanation-3: -GDP = private consumption + gross private investment + government investment + government spending + (exports – imports). or, expressed in a formula: GDP = C + I + G + (X – M) GDP is usually calculated by the national statistical agency of the country following the international standard.
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.