Capita GDP
Yes, GDP (gross Domestic Product) refers to the value of all goods and services in a country during a particular year. Per capita GDP, on the other hand, is an indicator of how much income a person has earned in that country for a specific period. This is done by taking the country’s total GDP and dividing it by its population (Khan 2018, 2018). The per-capita GDP provides a good way to compare the living standards of various countries and regions. It takes into consideration variations in populations (Glaeser, et al. 2020). It is therefore an important indicator of economic growth. It is used as a measurement of economic development in a country. It is used as a tool to compare living standards between countries and can be used to measure a country’s progress over time. Per capita GDP is also used to assess a country’s ability to provide for its population and can help to identify potential areas of improvement or development (Glaeser et al., 2020). Cont…
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