ECONOMICS
GDP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False
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Either A or B
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None of the above
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Detailed explanation-1: -GDP per capita provides a basic measure of the value of output per person, which is an indirect indicator of per capita income. Growth in GDP and GDP per capita are considered broad measures of economic growth.
Detailed explanation-2: -If the growth in population exceeds the growth in real GDP, real GDP per capita will fall.
Detailed explanation-3: -The Gross Domestic Product per capita, or GDP per capita, is a measure of a country’s economic output that accounts for its number of people. It divides the country’s gross domestic product by its total population.
Detailed explanation-4: -If GDP is falling, then the economy is shrinking-bad news for businesses and workers. If GDP falls for two quarters in a row, that is known as a recession, which can mean pay freezes and lost jobs. What is a recession and how will it affect me?