The economy's total output divided by its total population is called
A. gross national product
B. circular flow
C. GDP per capital
D. net export
is it D
its c thats the answer
C should be capita, not capital.
What do you think the answer is?
what is the answer Mrs.Sue
The correct answer is C. GDP per capita.
To understand why, let's break down the options and explain each one:
A. Gross National Product (GNP): This is the total value of all final goods and services produced by the residents of a country in a specific time period, regardless of their location. GNP takes into account the output of a country's residents, both domestically and abroad.
B. Circular flow: The circular flow model represents the flow of money and goods between households, firms, and the government in an economy. It shows how income is generated and spent through various sectors of the economy. However, it does not directly relate to measuring the economy's total output divided by its total population.
C. GDP per capita: GDP per capita is a measure of the economic output of a country per person. It is calculated by dividing the country's Gross Domestic Product (GDP) by its population. This measure provides an estimate of the average economic well-being of individuals in a country.
D. Net exports: Net exports, also known as the trade balance, represents the difference between a country's exports and imports. It is calculated by subtracting the value of imports from the value of exports. While net exports are important for understanding trade dynamics, they do not represent the economy's total output divided by its total population.
Therefore, the correct answer is C. GDP per capita, as it specifically measures the economy's total output (GDP) divided by its total population, giving an indication of the average economic performance per person in the country.