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AP®︎/College Macroeconomics

Lesson 2: Limitations of GDP

Limitations of GDP

AP.MACRO: MEA‑1 (EU), MEA‑1.B (LO), MEA‑1.B.1 (EK)

Madinsonia has a real gross domestic production (GDP) per capita of dollar sign, 10, comma, 000.

Which of the following statements can we infer from this information?

(Choice A)
Every person has an income of at least dollar sign, 10, comma, 000
(Choice B)
Every person has an income of exactly dollar sign, 10, comma, 000
(Choice C)
Every person has an income of less than dollar sign, 10, comma, 000
(Choice D)
The average income of a person is dollar sign, 10, comma, 000, but this might not be the typical person's income
(Choice E)
Without knowing the size of the population, we cannot say what a typical person earns