Question

Per capita real output is best defined as:

• A. The market value of all final goods and services produced in an economy in current prices.
• B. The market value of all final goods and services produced in an economy in current prices divided by the population.
• C. The market value of all final goods and services produced in an economy in the prices of a given year.
• D. The market value of all final goods and services produced in an economy in the prices of a given year divided by the population.

Answer 1

The correct option is D

The market value of all final goods and services produced in an economy in the prices of a given year divided by the population.

Per capita real output is defined as the market value of all final goods and services produced in an economy in the prices of a given year divided by the population.