Why is per capita gross domestic product (per capita GDP) better than gross domestic product (GDP) as a measure of a country's wealth? O Location and land mass have a large effect on GDP and must be considered in assessing a country's economy. O Because per capita GDP takes population into account, it is more useful for comparing the standard of living in different countries. O Per capita GDP provides information on income, while GDP only provides information on investment. O Per capita GDP includes the value of land, minerals, and crops not counted by normal GDP.

Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter15: Measuring A Nation's Income
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Why is per capita gross domestic product (per capita GDP) better than gross domestic product (GDP) as a measure of a country's wealth?

O Location and land mass have a large effect on GDP and must be considered in assessing a country's economy.

O Because per capita GDP takes population into account, it is more useful for comparing the standard of living in different countries.

O Per capita GDP provides information on income, while GDP only provides information on investment.

O Per capita GDP includes the value of land, minerals, and crops not counted by normal GDP.

The advantages of the sole proprietorship include

O ease of start-up

© full control ob business decisions

© exclusive rights to profits

© all of the above

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