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Questions and Answers
What does UK GDP per capita measure?
What does UK GDP per capita measure?
- the total output of the UK residents, divided by the number of the residents
- the total output of the UK's economy, divided by the country's population (correct)
- the average disposable income of a UK resident
- the total output of London's economy
Flashcards
Gross Domestic Product (GDP)
Gross Domestic Product (GDP)
The total value of all goods and services produced within a country in a specific period, usually a year.
GDP per capita
GDP per capita
A measure of the average economic output per person in a country.
How is UK GDP per capita calculated?
How is UK GDP per capita calculated?
The total output of a country's economy, divided by the country's population.
What does GDP per capita tell us?
What does GDP per capita tell us?
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What is the benefit of GDP per capita?
What is the benefit of GDP per capita?
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What are some limitations of GDP per capita?
What are some limitations of GDP per capita?
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What is GDP?
What is GDP?
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Disposable income
Disposable income
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Regional GDP
Regional GDP
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Income
Income
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Study Notes
UK GDP per Capita
- GDP per capita measures the total output of a country's economy, divided by the country's population.
- It does not measure the average disposable income of a UK resident or the total output of London's economy.
- It also does not measure the total output of UK residents, divided by the number of residents.
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Description
Test your knowledge on UK GDP per capita with this quiz. Understand what GDP per capita measures and what it does not reflect about the economy. Challenge yourself with questions that cover key concepts relating to economic output and population metrics.
