Economics Real Vs Nominal Gdp Questions
The difference between GDP and GVA per capita growth rate lies in the way they measure economic growth. GDP (Gross Domestic Product) measures the total value of all goods and services produced within a country's borders, while GVA (Gross Value Added) measures the value added by each individual producer or sector in the economy.
GDP per capita growth rate calculates the average economic growth per person in a country, taking into account population changes. It provides an indication of the standard of living and economic well-being of the population.
On the other hand, GVA per capita growth rate focuses on the value added by each producer or sector, excluding taxes and subsidies. It provides insights into the productivity and efficiency of different sectors within the economy.
In summary, GDP per capita growth rate measures the overall economic growth per person, while GVA per capita growth rate focuses on the value added by each producer or sector.