Measuring Development - Economic Flashcards
1
Q
What is GDP a measure of?
A
Wealth
2
Q
What happens to the GDP as a country develops?
A
It gets higher
3
Q
What is GDP per capita?
A
GDP divided by total population
4
Q
What is GDP per capita a measure of?
A
Wealth
5
Q
What happens to GDP per capita as a country develops?
A
It gets higher
6
Q
What is GDP?
A
The total value of goods and services a country produces in a year
