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Aitolkyn Alzhanova
on Nov 16, 2024

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International data on real GDP per person gives us a sense of how standards of living vary across countries.

Real GDP Per Person

The value of all final goods and services produced within a country in a year, adjusted for inflation, divided by the country's population.

Living Standards

The degree of riches, convenience, possessions, and basic needs accessible to a particular social economic group or location.

  • Appreciate the relationship among real GDP per individual, living standards, and economic growth rates.
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Lorella RestivoNov 19, 2024
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