Economics Real Vs Nominal Gdp Questions
The difference between GDP and GNP growth rate per capita is that GDP (Gross Domestic Product) measures the total value of goods and services produced within a country's borders, regardless of the nationality of the producers. On the other hand, GNP (Gross National Product) measures the total value of goods and services produced by the residents of a country, regardless of where they are located.
Per capita growth rate, on the other hand, measures the average increase in GDP or GNP per person in a given time period. It is calculated by dividing the growth rate of GDP or GNP by the population of the country.
In summary, GDP growth rate per capita measures the average increase in the value of goods and services produced within a country per person, while GNP growth rate per capita measures the average increase in the value of goods and services produced by the residents of a country per person.