Real GDP Per Capita
Real GDP per Capita Definition
GDP, Gross Domestic Product measures the national output of an economy. This measures the volume of goods and services produced in a given year.
Real GDP takes into account inflation. In other words Real GDP measures the actual increase in goods and services and excludes the impact of rising prices.
Real GDP per capita takes into account the average GDP per person in the economy.
Related
- GDP Per Capita Statistics
- Richest Countries by GDP
- Measuring Living Standards - limitations of GDP
- Does GDP measure economic development?
- Misleading economic statistics
- GDP per capita statistics
Related Essays and Revision Notes
Economics Revision Guides
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Economics Dictionary
- Economics Dictionary at Amazon UK
- Economics Dictionary at Amazon.com