Final answer:
Real output per capita is a measure of the average production per person in a country. It is calculated by dividing the gross domestic product (GDP) by the population of the country. Per capita GDP is useful for comparing different countries and understanding their standard of living.
Step-by-step explanation:
Real output per capita is a measure of the total output of a country that takes the gross domestic product (GDP) and divides it by the number of people in the country. It provides an average value of the country's production per person. Per capita GDP is calculated in real terms, which takes into account inflation and provides a more accurate measure of economic growth.
For example, if a country's GDP is $1,000 and its population is 100, the per capita GDP would be $10. This means that, on average, each person in the country contributes $10 to the country's total production.
Per capita GDP is useful for comparing the economic performance of different countries and understanding the standard of living of their citizens.