Determine the term- gdp per capitagdp being a flow isnt a, Ask an Expert

Economics

Determine the term- GDP per capita

GDP, being a flow, isn't a measure of the total wealth of a country though a measure of the "income" of country during a certain period of time. Sure, if GDP is high, it's quite likely that total wealth of the country is increasing over time (some wealth is lost to depreciation). So there is generally a connection between what we perceive as a "rich" country and a high GDP per capita.

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Macroeconomics, Economics

Category:- Macroeconomics
Reference No.:- M9582366

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