Question

How is GDP per capita calculated differently from labor productivity?

a) GDP per capita is the total GDP divided by the number of workers, while labor productivity is the total output divided by the number of hours worked.
b) GDP per capita measures the average income per person, while labor productivity assesses the efficiency of individual workers.
c) GDP per capita accounts for the total population, whereas labor productivity focuses on the output produced by each worker.
d) GDP per capita considers the total labor force, while labor productivity examines the income generated per capita.

Answer 1

GDP per capita is the total GDP divided by the number of people in a country and measures the average income per person. On the other hand, labor productivity is the value of what is produced per worker or per hour worked. Labor productivity, on the other hand, assesses the efficiency of individual workers in terms of output produced.

Step-by-step explanation:

The calculation for GDP per capita is different from labor productivity. GDP per capita is the total GDP divided by the number of people in a country. It measures the average income per person and shows the relative performance of countries. On the other hand, labor productivity is the value of what is produced per worker or per hour worked. It assesses the efficiency of individual workers in terms of output produced.

GDP per capita is the total GDP divided by the number of people in a country and measures the average income per person. On the other hand, labor productivity is the value of what is produced per worker or per hour worked. Labor productivity, on the other hand, assesses the efficiency of individual workers in terms of output produced.