What Is GDP per Capita?
Per capita is Latin for per head; GDP is the value of all final goods and services a country produces in a period (IMF).
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1.What is GDP per capita?
Per capita is Latin for per head; GDP is the value of all final goods and services a country produces in a period (IMF).
2.A country has an output of 200 million and 5 million people. What is GDP per capita?
200 divided by 5 is 40 per person.
3.Why is GDP per capita not what the average person earns?
Some of the output becomes wages, some profits, some taxes: it is a size per head, not a paycheck.
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Sources (5)
- IMF Finance & Development, Back to Basics: Gross Domestic Product (Tim Callen, 15.6.2019)
- U.S. Bureau of Economic Analysis: What to Know About GDP
- World Bank, World Development Indicators: GDP per capita (current US$), NY.GDP.PCAP.CD, API
- World Bank, World Development Indicators: GDP per capita, PPP (current international $), NY.GDP.PCAP.PP.CD, API
- Eigene Berechnung (synthetische Rechenbeispiele)
Education only. Not financial advice.