Math practice for economics computing per capita gross domestic product

Asked by admin @ in Mathematics viewed by 320 People

how is per capita gross domestic product calculated "total market value of goods and services produced within a year divided by total population"?

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Answer: See explanation

Step-by-step explanation:

You didn't really say what you want to know but let me explain.

The gross domestic product of an economy is the value of the goods and.d services that are being produced in such an economy. The gross domestic Product is used to know how well an economy is doing

Per capita gross domestic product (GDP) is a used to know the economic output of a particular country per person. It is calculated by dividing the GDP of such an economy by the population.

For example, let us say the GDP of a country is $800,000,000 and the population is 3,500,254. Therefore, the per capita GDP would be:

= $800,000,000 / 3,500,254

= $228.56 per person


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