Question

GDP per person tells us the income and expenditure of the a. richest person in the economy. b. poorest person in the economy. c. average person in the economy. d. entire economy.

Answer 1

Answer:

The correct answer is letter "C": average person in the economy.

Explanation:

The Gross Domestic Product (GDP) measures the level of output of a country given a certain period -by quarter and year, usually. It considers government expenditures, private investments, consumer spending, and net exports (exports minus imports).  

The GDP per capita represents the GDP per person and is calculated by dividing the GDP by the population of a country. GDP per capita represents an approximate of the expenses of an individual. Smaller richer countries such as Luxembourg or Switzerland tend to have higher GDP per capita.