how do economists use the gdp per capita rate?\nthey compare individual wealth in different countries.\nthey…
how do economists use the gdp per capita rate?\nthey compare individual wealth in different countries.\nthey compare the standard of living in different countries.\nthey contrast the unemployment rate in different countries.\nthey contrast the productivity rate in different countries.
Answer
Brief Explanations:
GDP per capita is calculated by dividing a country's GDP by its population. It is often used as an indicator of the average economic well - being of people in a country, which reflects the standard of living. It is not directly about individual wealth (as it's an average), nor about unemployment or productivity rates.
Answer:
They compare the standard of living in different countries.