Real GDP per capita is NOT an adequate measure of

the well-being of each person in an economy.

average real GDP per person in the economy.

a country's average aggregate output per person.

a country's average aggregate spending per person

Question

Business

Meaghan

17 September, 12:15

Real GDP per capita is NOT an adequate measure of

the well-being of each person in an economy.

average real GDP per person in the economy.

a country's average aggregate output per person.

a country's average aggregate spending per person

+2

Answers (1)

Know the Answer?

Toby · Answer 1

The correct answer is the well-being of each person in an economy.

Explanation:

Also known as the "Standard of living", this is something that cannot be reflected from the per capital income, whether it's nominal or real. The reason is when you divide the GDP from the population, the assumption is all the GDP is distributed among the population equally.

But this is not the case in the real world and there are many variances, discrimination, discrepancies and inequalities when the wealth and resources are distributed.

Real GDP per capita is NOT an adequate measure ofthe well-being of each person in an economy.average real GDP per person in the economy.a country's average aggregate output per person.a country's average aggregate spending per person

Real GDP per capita is NOT an adequate measure of

the well-being of each person in an economy.

average real GDP per person in the economy.

a country's average aggregate output per person.

a country's average aggregate spending per person