what are per capita income? write the formula for calculating it
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Answer:
Per capita income (PCI) or average income measures the average income earned per person in a given area (city, region, country, etc.) in a specified year. It is calculated by dividing the area's total income by its total population. Per capita income is national income divided by population size.
Explanation:
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Answer:
Per capita income (PCI) or average income measures the average income earned per person in a given area (city, region, country, etc.) in a specified year. It is calculated by dividing the area's total income by its total population. Per capita income is national income divided by population size.
Explanation:
The per capita income is calculated by dividing the total income of the country by the population of the country.
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