Question

What is the difference between GDP and per capita income​

Answer 1

Answer:

GDP stands for Gross Domestic Product. ... It is achieved by dividing the country's total GDP by the country's total population in a particular year. The income per capita measures the amount of money earned by each person in a certain region at a specified time. It is the average income per person for a country.

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Answer 2

Answer:

☆ Heya! ☆

Explanation:

☆ Question:

● What is the difference between GDP and per capita income?

☆ Solution:

▪ GDP is used to measure a country's standard of living when looking at a nation's income.

▪ Real GDP per capita is a measure of the average income per person.

▪ When examining a country's standard of living, real GDP per capita is considered a better measure than just real GDP.