ECONOMICS
PRODUCTIVE RESOURCES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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GDP
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GDP per Capita
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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: -Gross Domestic Product (GDP) per capita shows a country’s GDP divided by its total population. The table below lists countries in the world ranked by GDP at Purchasing Power Parity (PPP) per capita, along with the Nominal GDP per capita.
Detailed explanation-3: -GDP per capita only measures the income paid to those residing in the country’s borders. GNI per capita can raise a country’s standard of living. That’s because many citizens live in other countries to get better jobs. They also remit part of their wages back to their families at home.
Detailed explanation-4: -Per capita income for a nation is calculated by dividing the country’s national income by its population.