Economics Real Vs Nominal Gdp Questions
The difference between GDP and GNP deflator per capita growth rate per capita lies in the measurement and focus of each indicator.
GDP (Gross Domestic Product) per capita measures the total value of goods and services produced within a country's borders, divided by the population. It provides an indication of the average economic output per person in a specific country.
On the other hand, GNP (Gross National Product) deflator per capita growth rate per capita measures the average growth rate of the deflator, which is a price index that reflects changes in the overall price level of goods and services produced by a country's residents, regardless of their location. GNP takes into account the income earned by a country's residents, both domestically and abroad.
In summary, while GDP per capita focuses on the economic output within a country's borders, GNP deflator per capita growth rate per capita considers the overall price level and income earned by a country's residents, regardless of their location.