Real Output Per Capita Is Calculated by

question 36

Multiple Choice

Real output per capita is calculated by

• A) multiplying the population by GDP
• B) dividing nominal GDP by the population
• C) dividing the population by nominal GDP
• D) dividing real GDP by the population
• E) dividing the population by real GDP

---

Definitions:

Competitive Market

A market structure marked by a high level of competition among businesses, where no single entity has the power to influence market prices significantly.

Government-operated Firms

Businesses owned and managed by a government in order to provide goods or services to the public.

Economic Efficiency

An arrangement whereby resources are utilized in the most efficient way to increase the output of goods and services at the minimum possible cost.

Monopoly Power

The ability of a single entity or company to control or dominate a particular market, often leading to higher prices and reduced competition.