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Anonymous
Anonymous asked in Social ScienceEconomics · 1 month ago

Is it wrong to compare GDP per capita to Income per Capita?

Let's say I get a county's GDP per capita and then a different country's Income per capita. The income per capita was higher then the GDP per capita, could I then say the country with the higher income per capita is richer? Or is this false since they're measuring different things?

Update:

To be clear I am asking about GDP per capita, not GDP itself.

7 Answers

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  • 1 month ago
    Favorite Answer

    gdp can be calculated in 3 ways and theoretically the answer should be the same. But in practice because of measurement and other errors the answers may differ. But gdp per capita is just the gdp measured by any of the three methods divided by the population of the country. So your answer the gdp per capita should theoretically be equal as gdp per capita or income per capita.

  • 1 month ago

    It's not "wrong" to compare GDP per capita to income per capita or any other statistic. It simply means nothing and proves nothing - but it does amuse and even excite some people?

  • Anonymous
    1 month ago

    No you cannot. Their is no gdp per capita and there is no national income.  .

  • 1 month ago

    i would hope not

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  • ?
    Lv 7
    1 month ago

    Only GDP PPP per capita is comparable among countries. Income per capita using income approach is defined to be equal to GDP per capita. But there are statistical discrepancy. And the data are not consistent internationally.(the world bank and IMF)

  • Pearl
    Lv 7
    1 month ago

    i dont think so

  • Anonymous
    1 month ago

    Gross Domestic Product (GDP) is the income of a country before debts are accounted for. It's like considering someone's income before taxes and social security deductions - completely meaningless.

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