How is state GDP per capita calculated? » HSC U.S. Economy MCQ » MCQ Academy

U.S. Economy

How is state GDP per capita calculated?

Payroll jobs multiplied by GDP
Total state GDP divided by a defined population
Median income divided by total land area
Unemployment divided by household count

Payroll jobs multiplied by GDP
Total state GDP divided by a defined population
Median income divided by total land area
Unemployment divided by household count

Note

GDP per capita is calculated by dividing a state's GDP by a specified population measure.

The denominator should come from a population measure for a specified period. GDP per capita is an output ratio, not a direct observation of how much income any resident receives. Population revisions can change this ratio even if total GDP stays fixed.

Tags: New Jersey Facts, State GDP and Economic Indicators

Note

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