Examlex
The MPP of labor divided by its (labor's) price is greater than the MPP of capital divided by its (capital's) price. Costs can be minimized by
Real GDP Per Person
An economic metric that divides a country's real gross domestic product by its total population, reflecting the average economic output per person, adjusted for price changes.
Sub-Saharan Africa
A geographic area of the African continent that is situated south of the Sahara Desert, characterized by diverse cultures, languages, and ecosystems.
Real GDP Per Person
Real GDP Per Person is a measure of the economic output of a country divided by its population, adjusted for inflation; it’s often used as an indicator of the average standard of living.
Rich Countries
Nations with high levels of income per capita, often characterized by strong economies, advanced infrastructure, and a high standard of living.
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