Question

GDP per person tells us the income and expenditure of theA. richest person in the economy. B. poorest person in the economy. C. entire economy. D. average person in the economy.

Answer 1

The answer is (C) entire economy.

Step-by-step explanation:

Gross domestic product (GDP) is the total sum of goods and services that a country produces within a certain amount of time. It is a general estimate of what a country produces as a whole – not just the poorest, the average, or the richest person. To calculate GDP, you need to measure the output, expenditure, and income of a country’s economy – and adding them up to get the total. This total is the GDP.