Real GDP and Per Capita Real Output Are Two Indicators

question 211

Essay

Real GDP and per capita real output are two indicators used by the government to measure economic growth.Define them,and explain why growth of per capita real output is a more accurate measurement of the growth in the economic welfare of individuals.

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Definitions:

Interspecific Competition

A biological interaction between organisms of different species competing for the same resources in an ecosystem, such as food or space.

Foraging

The act of searching for and exploiting food resources in the wild, often used in the context of animals but also applicable to human gathering activities.

Commensalism

A relationship between two living organisms where one benefits and the other is neither harmed nor benefits significantly.

Parasitism

A biological relationship where one organism, the parasite, lives on or in another organism, the host, causing it harm.