In two or three sentences, explain why real GDP per capita does not reflect the actual distribution of wealth?
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GDP is total goods of services
ex in dubai a sheikh gets assuming 10,00,000 $ a yer
and a daily wage worker 50,000$
but GDP of dubai is same of usa
now usa gets equally like 1,00,000 $ to every person with slight difference .
so GDp can't denote social equality thus not reflecting distribution of wealth .
ex in dubai a sheikh gets assuming 10,00,000 $ a yer
and a daily wage worker 50,000$
but GDP of dubai is same of usa
now usa gets equally like 1,00,000 $ to every person with slight difference .
so GDp can't denote social equality thus not reflecting distribution of wealth .
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